Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jack of All Trades who wrote (12133)	7/27/1998 2:18:00 PM
From: Jenna	Read Replies (2) of 120523

CNC..was looking this one over this weekend. It's been a wonderful earnings play in the past and general performer. It has a correlation coefficient of 1 which is perfect earnings acceleration for the past 4 quarters. But relative performance has been down for weeks and although analysts' give it 9 strong buy and 4 moderate buys on it I'm a bit concerned about earnings estimate for the current quarter and fiscal year. So I'm about 50/50 on this one as an earnings play or a general play in the next 1-2 trading session. Fundamentals Now for next fiscal year earnings have been revised upward (10 analysts). I'm also bullish on its subsidiary: Green Tree Financial. CNC's ERG is still a resounding 94 and it's group rank is in the 99th percentile. Basically, what I did was NOT to include it as an "earnings play' for this week. I could always change my opinion based on its performance in the next 1-2 trading periods. For now, it's just not in buy territory. Technicals: MACD is bullish and Volume indicators are bullish. This chart could be heading for a trend reversal. Support is at 44 3/8 and resistance at 51 7/8. Stochastics are oversold.

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