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Strategies & Market Trends : Contrarian Investing

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To: pcyhuang who wrote (663)	11/6/2006 9:53:06 AM
From: OldAIMGuy	Read Replies (1) of 4080

Hi PC, Re: Value Line Contrary Play.................. Here's a new one this week from Value Line. ELK, Elk Corp., a building supplies company has been rolling along with a 14% annual growth rate for the last 10 years and managed to make its presence shown on the Value Line "Top 100 Highest Growth Stocks" list. Well, now that the housing market has cooled off a bit, I guess Value Line feels it's time to rank this stock with a "Timeliness" of #5, worst for the next 12 months. The stock's price history makes it look more like a "trading" candidate than a Buy and Hold issue. It carries a modest P/E (11 as of early October according to V/L). With a projected price/share of between $50 and $75, this might make an interesting one to study. That massive bit of selling in the last two weeks needs a bit of explanation I'd think before anyone plunks down any money. However, it opened very strongly this AM. Best regards, Tom

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