ParkTwain's Parlor

[Gatorman]

Park:
I can appreciate your dilemma in sorting through candidates. My screens have returned many candidates as well and it's going to take me a long time to research them all. However, I much prefer that to not having many to look at.
I agree with your take on the expectations from the FOMC action and that now is the time to be nearly fully invested in the market.
LMT broke out on very good volume and then had an expected retracement. It looks like a great choice.
We could be heading toward a good year for us all.

[IIC]

Park...I don't think anyone really needs to do a study to know that Earnings are the key to long term growth...But it is interesting. Also have to watch out trying to compare capitalization due to the time value of money.

Anyway, speaking of New Highs/New Lows here are charts on the NYSE and Naz Ratios...As of post time they do not include Friday...But since I'm snagging them off the Web...They will automatically update right here later today.

[ParkTwain]

Anyone here read the stock market books published in the early 1970s by the former actor Richard Ney? Here are some of his ideas about the behavior of NYSE specialists, paraphrased:

http://w3.trib.com/~fredj/ney.html

I googled "Richard Ney market" after reading this series of posts (in mangled English) on Yahoo's OXPS stock board:

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=1609535817&tid=oxps&sid=1609535817&mid=3702

[ParkTwain]

Also have to watch out trying to compare capitalization due to the time value of money.

What? The 3000% avg gain in market cap of those 25 stocks during the 10-year period doesn't get your attention? I suspect that gain left in the dust the inflation rate over the same period. Or are you saying that the results must be compared against the cumulative "risk-free" rate of return that was available during the same period? Yes, that's true.

[IIC]

What? The 3000% avg gain in market cap of those 25 stocks during the 10-year period doesn't get your attention? I suspect that gain left in the dust the inflation rate over the same period. Or are you saying that the results must be compared against the cumulative "risk-free" rate of return that was available during the same period? Yes, that's true.

Yes...that's what I'm saying...At least I think I am...Doug(IIC)

[skiracer]

Anyone here read the stock market books published in the early 1970s by the former actor Richard Ney? Here are some of his ideas about the behavior of NYSE specialists, paraphrased:

http://w3.trib.com/~fredj/ney.html

I googled "Richard Ney market" after reading this series of posts (in mangled English) on Yahoo's OXPS stock board:
http://finance.messages.yahoo.com/bb...35817&mid=3702

Good reading Park. I added the Bender to my favorites list and will visit there regularly to see what he has to say.

[RL]

WOW PARK great post that will keep me busy tonight.

[ParkTwain]

Today I ordered copies REAL CHEAP (like $2.50 per book) of Ney's first two books at alibris.com. I think they are hardcovers. Beats amazon.com to hell. The shipping cost more than the book!

Recently I also found in my local library for $1.00 a donated perfect 1st ed. copy of Lowenstein's "Buffett: The Making of an American Capitalist." This edition of the book is offered for about $50.00 at alibris.com.

http://www.alibris.com/search/search.cfm?chunk=25&mtype=&wauth=lowenstein&wtit=buffett&qwork=838860&S=R&matches=84&browse=1&qsort=p&page=4

[New-born baby]

Yeah!

Park,
Been reading your stuff. I am beginning to like you. A lot.

[ParkTwain]

Did you guys ever notice the ROE for OXPS, then also notice the ZERO DEBT.

http://finance.yahoo.com/q/ks?s=OXPS

For most public corporations, but not for OXPS, very high ROE is a function of decent profits yoked to a high debt-to-equity ratio.

[ParkTwain]

Sold two-thirds of my DDD position (the remaining shares held represent roughly my profit to date in the entire position), bought a little more RMIX. Almost bought some ANX, but will watch it for now.

[diogenes]

Park,
Been reading your stuff. I am beginning to like you. A lot.

I agree.

His plan seems to be well thought out etc.

[ParkTwain]

Thought for the day:

http://www.amazon.com/gp/reader/0967155312/ref=sib_dp_pt/102-7189256-4055321#reader-link

[IIC]

Thought for the day:
http://www.amazon.com/gp/reader/0967...21#reader-link

My kinda book...Doug(IIC)

[ParkTwain]

End of today's session, my trading account is up 19.5% YTD 2006. A good 1-month return for a mere position trader.