V-SPEC,
Thanks for selling. I only made a blip on the board today as I bought at 11-1/8 and it moved to 11-1/4. Both of us likely got ripped on the trade and the brokers picked up an 1/8th. Three months ago, I had a large position @ 8.5 before the run-up to my sell price of 11-1/4. I now find myself in the same position at the same time in the Q.
As I watch financial programs and read the news, we have entered another Bullish stage. As usual, it hits the DOW first, then carries down to midcaps, then small caps.
IMAO - (amateur opinion) Elemex will likely be recognized within the week. I had a sell for part of my position @ 12-3/8 but withdrew it tonight. At <10PE and a predictable 15-20% growth rate, it is greatly undervalued to the sector and the market. This has long been the case, but there has never been this much pressure to find undervalued stocks or as much interest in mid and small caps. I expect a run-up on ELAMF to the 13.5-15 range before the earnings report. If they show decent earnings growth (15-20%), a run to 20 before a fall-off into the 16-18 range.
I believe everything is in position for a good report. Interest income instead of expense, facility expansion, new contracts based on the higher wage rates, the Eurotec acquisition, etc. The only negative I can see at the moment is increased competition from the Far East due to currency rates, but this should not be a factor until 4Q or 1Q-98.
For what it's worth,
Ron
Now I want to go look at this ALLY that's a better buy than ELAMF @11. I got back in time. I looked and now know why you have 'SPEC' in your nickname.
Paul K.- did you happen to look at FLSHF when I referred you to it? It's one to watch. I've a decent amount at 5.50. |
