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Strategies & Market Trends : Electronic Contract Manufacture (ECM) Sector
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To: kolo55 who wrote (1084)1/9/1998 10:46:00 AM
From: rich evans  Read Replies (2) of 2542
 
Watching the tape this morning, has led me to the conclusion we are in a bear market for ECM and PCB companies and other industries as well. I remember your post last autumn concerning the ECM and PCB companies being fully valued. Now those valuations and prices are down by 50% and instead of PEs of 20+ and PSR of 1+ we have PEs of 7, 10, 12. Its hard to understand with the good reports of SLR, JBIL and Creditman,s info etc. But Jeff mentioned awhile back that the possibility of a bear market existing and if so the PEs would go way down which they have especially if the company has a disappointment like ACTM and PLXS. Lots of reasons can be conjured up such as ASIAN FLU, flat yield curves etc but the growth and performance of these ECM stocks discussed in the last few posts is not being confirmed in stock movement. Unfortunately I am fully invested and it is hard to justify switching around . But I do think that right now will turn out to be one of the great buying opportunities in these industries. When this will end is a good subject for discussion. Our April FLEXF calls could be money gone.I guess I am saying that even after the upcoming reports for FLEXF et. al. and assuming they are good reports that these stocks could languish as have JBIL i. e. Its hard to buck the bear head wind. I personally don't think this bear market will last too long but this is just an opinion. In winter bears hibernate and that is what I will be doing. Not to exciting.
Rich
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