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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Tim Luke who wrote (13057)8/15/1998 7:57:00 PM
From: Jenna  Read Replies (1) of 120523
 
Punished beyond their 'crimes'?..
Crime:: Only Matching earnings estimates
Crime: Posting lighter than expected sales because the winter was too warm.

Barron's August 17, 1998, has an interesting article about 50 of the most 'beaten down though fundamentally sound' companies that are 30-60% off their 52-week high.
They mention stocks from the airline sector, gold sector and oil sectors, tech sector, etc. I'll leave these sectors and list of the stocks but first it was interesting that the screen they used to find these stocks were:

1) companies with more than $1 billion in market cap
2) down 20% or more from their 42 week high
3) followed by three or more analysts and
4) 1998 concensus earnings estimates are rising.

You don't have to be a columnist for Barrons' or a correspondent for the Wall Street Journal to understand that this is the case. There were remarkable companies trounced in the past few weeks. These companies I've watched on my charts, gotten from my own scans and have also had their 'earnings estimates for the next quarter/quarters' as one of my own criteria for determining which will 'bounce' the quickest.

It's always the case that because earnings disappointment is the fear going on the street nowadays that if you miss by a cent, don't be surprised if your stock gets 'hacked' up to 25% in one session. If you all exercise patience, alertness and some careful scrutiny of your data bases you will 'catch them' before they change trends too quickly.

RMBS vaulted last week after Samsund Electronics said it will mass produce Rambus' 64- megabit membory chip from 200,000 units a month to one million units by mid-1999. Many believe Rambus will be the standard PC memory chip.

Point is that these stocks will turn around and when they go, they will turn quickly. The internets will recover its momentum and others will break out.

Here are some of the stocks mentioned in the Barrons's article: I included those that I've tracked as well.


CCA
NGC
ITWO         CHRZ
FCX          AMMB
ABF          MCH
GNCI         PSFT
CDO          DE
PAGE         BTH
ASI          ADCT
WFMI         RXSD
RMBS         ADSK
CNTO         PB 
BEAS         PIXR
CNK          PMCS
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