RMCI was prominently mentioned in Investors Business Daily on 9/21. Gave it excellent review. Profit growth has increased in the last two quarters, from 4% to 23% to 141%. Analysts predict fiscal 2001 earnings will increase 87% vs 1% a year ago.
I also like low priced stocks that may triple....got any names (symbols) that you like? I currently am following RGB and PMTI in the low priced area because I can see both building business that are turnarounds. The question is when. I also like a little know stock ANDR which has a great base business and interests in Russia cable which have exciting long term potential. I'll still buy more RMCI if it forms a handle...the Oneil stuff,
zebra: I'm with you, trying to buy them when they are real cheap, even if the chart doesn't look great at the time, there are almost no institutional holders, the earnings haven't turned up yet, or, to put it another way, it meets absolutely none of O'Neill's requirements. But there is room in the market for many different investing styles, and someone playing cup and handle chart breakouts, if successful, while making far less, would do so quicker, so maybe the ROI works out fine. Whatever works.
FWIW, I lightened up a bit on Friday. Based on my continued negative outlook for the economy, I could see RMCI reporting close to $3 next year (including the $0.60 boost from the end of goodwill amortization), and the stock going to $50 or so. But I don't think it can triple from here, and I would rather have more money in those kind of things, or just plain old cash.
Don't let us talk you into staying. The Oneil buy signals depend on holders selling when they get back to a previous high. If there isn't a few weak hands selling now, I can't justify buying more....there'll be no handle one the cup!!! I'm sure you enjoy this message.
As to O'Neill's CANSLIM system, and your recent success with it - hey, there are many systems out there for winning in Vegas, too.
Just because you win a couple of hands at blackjack using them doesn't mean the system works. It fact, using them is dangerous to your financial health because relying on unreliable things emboldens you. The facts are plain: No simple-minded system can reliably be depended on, though people, like O'Neill, get rich selling that dream.
But, good luck on your next few hands.
Meantime, with the economy looking so, so bad....I think I'll hang in here for a while longer- maybe the mo-mo types will get this thing up to 40, yet.
Yeah, it's a similar system that was used by the legendary investor, Jesse Livermore, whose life was profiled in the stock market classic, "Reminiscences of a Stock Operator".
He flew very high and famously for a while, on and off, but eventually became convinced that "no man can consistently and continuously beat the stock market". (I probably shouldn't mention that he ended up killing himself...!)
But, of course, I digress....
Back to the races!