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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: bobster who wrote (1666)	3/11/1998 3:27:00 PM
From: Gottfried	Respond to of 34811

bobster, I don't buy stocks that are overpriced (by comparing PE to history). But, like you, I should struggle with that concept. I also try to avoid stocks without earnings, even though some of them could make you rich. Maybe some day I'll have enough faith in PnF to do those two things. I was impressed with TD's statement that he earns a little less than the SP500 for his clients. No hype there. While I beat the SP500 in '95 and '96, I sadly underperformed it in '97 and now have great respect for money managers who just slightly underperform the SP year after year. I'm debating whether to put more into the oil service sector. The sector still has a low PB number, most stocks are way below their 'normal' PE and have unchanged or higher earnings projections. All we need is a crude price increase. BTW, last fall I did sell half my ESV because it was close to the upper Bollinger band etc. Turned out to be the right thing to do, but I have no illusion it will work next time. I should go back and see what PnF would have suggested. Gottfried