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Strategies & Market Trends : Three Amigos Stock Thread

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To: Cary C who wrote (1445)	3/5/1998 9:05:00 AM
From: Raymond Hill	Read Replies (1) of 29382

A $22 share price would be an incredible achievement. I think we will have to see what has been actually told to people to assess the likely prospects of that happening. However, with the current trading volume and chart pattern, I am extremely optimistic about PCTH breaking into new all-time high territory above $7.00 with a fast run up to $8 -$9. There will be plenty of time for me to assess events as they unfold. About 9 million shares have been traded in the last three weeks. It makes me wonder how many older shareholders are still left. There are a select group of super growth stocks that have very high PE ratios based on their rapid and continuing sales and earnings growth. I do think that PCTH has the potential to have an above-average PE ratio, which would be a very big help in breaking into a much higher price. At the current price it is only 16 times estimated earnings for the year beginning June 1. The Wall Street Journal yesterday indicated that the S & P 500 are trading at forward PE ratios of at least 20, which should indicate that PCTH is at least 20% undervalued, relative to them.

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