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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile? -- Ignore unavailable to you. Want to Upgrade?

To: Dalin who wrote (744)	6/22/1999 7:38:00 PM
From: Peter Goss	Read Replies (2) \| Respond to of 1390

Leh reported GOOD earnings!!>>> As today's market response to this "good news" shows, every possible positive is factored into SCH's stock price. As the permabulls have yet to figure, any good info will be sold and any doubtful info (eg the report of declining trades) will be sold hard. All the earnings growth and expansion is in the price now; any market slippage or whiff of slowing "perfection" will be devastating. When everything is priced in along with a bunch of stuff that is improbable (SCH at $155) then it is time to wave goodbye. This recent bounce (ending early this morning) was another good selling opp that most bulls bought instead of sold. This is a fine company, but as the stock fundamentals get rationalized (try 30x forward earnings = $45) it will have been a big ugly round trip. Flame away, but at least write some covered calls. Good investing, Peter