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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (1240)	2/12/1999 12:59:00 AM
From: porcupine --''''>	Read Replies (3) \| Respond to of 1722

Retail Sales Gain in January By The Associated Press WASHINGTON (AP) -- Post-holiday discounts drew Americans to department stores and clothing shops in January, helping to produce a modest 0.2 gain in retail sales after a big increase the month before. The increase reported today by the Commerce Department, to a seasonally adjusted $232 billion, was in line with economists' expectations. It followed a large 1 percent gain in December and dovetailed with their belief that robust economic growth at the end of 1998 is carrying over into early 1999. Conditions remain bright for continued strong sales. Unemployment held at a 29-year low of 4.3 percent in January. Interest rates remain low, stock prices high and inflation contained. In a sign the supply of jobs remains plentiful, the Labor Department said the number of Americans filing first-time claims for unemployment checks dropped by 13,000 last week to a seasonally adjusted 281,000, the lowest level since July 1997. A four-week moving average of claims, which smoothes fluctuations in the volatile data, fell by 19,750 to a four-month low of 297,750. While the overall increase in sales was relatively muted, sales at department stores and other general merchandisers soared 1.5 percent, the biggest increase in 11 months. In a separate report earlier this month, big discount chains such as Wal-Mart, Target and Kmart recorded the strongest gains. Clothing, shoe and accessory shops reported a 1 percent increase in January, and drug stores, an 0.8 percent advance. Meanwhile, auto sales rose 0.2 percent on top of a big 2.2 percent jump in January. Receipts at building-supply and garden centers were unchanged after a healthy 1.9 percent gain in December. Furniture sales fell 0.4 percent, the worst performance in nine months. They were strong through much of 1998, helped by spillover from record home sales. Sales also fell at food stores, 0.5 percent; gas stations, 0.5 percent, reflecting the lowest gasoline prices in more than a decade; and restaurants and bars, 0.2 percent. ---------------------------------------------

To: porcupine --''''> who wrote (1240)	2/12/1999 9:29:00 AM
From: Boyd Hinds	Read Replies (1) \| Respond to of 1722

>>>Boyd, did you discover these companies by reading the Napeague Newsletter?? No, not entirely. However, I do subscribe to Bob Davis' newsletter and find his research to be quite in depth. I trust his fundamental analysis and insights on the companies he researches. Sadly, he seems to be drifting away from the micro cap market segment as he has said recently that his readership is not comfortable with this area of the market. He has not posted any new micro cap ideas in some time.... I'm sure you recall MTY and CLZR from Bob's list of attractive opportunities. I know he has also posted about MTY on this thread. Interestingly enough, I independently uncovered MTY and one other stock on Bob's list, KAB, about 1.5 years ago. Bob had posted some info on the KAB Yahoo board about a "flash report" on KAB at his website. I followed the link and found that his style of investing seemed to be similar to mine. CLZR is another on Bob's list that I have to give him most of the credit on. He was dead right about the company's turnaround. I usually don't invest in turnaround situations, but the story at Candela is quite compelling. Anytime you can get in on the ground floor of a company that is beating the pants off its competitors and has patent rights to new technology and is the low cost producer....well you can understand my enthusiasm. Marlton Technologies was a company I discovered on my own about 1.5 years ago. I have been buying the stock on its way down as I believe its fundamentals have yet to be discovered by the market. If you look at MTY's operating margins, sales growth, and EPS growth, it flies in the face of the stock's stunning decline over the past year. Some other stocks I am currently invested in: DDIM, NHCH, OHB, PSEM, PFINA, RTC, and a few others on Bob's list: ADTC, ABIX, KAB I use Bob as another starting place for ideas. The web is a fantastic resource for trying to find these small, undiscovered companies. And with larger cap stocks selling at historically high valuations and very vulnerable to a sell off, I'm comfortable putting new money to work in these areas.