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grow is finally waking up today
higher high,, higher low-- value/ growth fund. fund.--ps watch your stops,, mms just hit somebodies stops on grow-mms need the shares,, only 5mil in the float
stock is undervalued for their peer group. Profiled in barrons on 1/19.. you see alot of momo p&d stocks all because they have low floats run 200-500%,, well this is a value growth story with a alot to gain when gold pops.
http://webreprints.djreprints.com/914850100032.html
banks and broker index is waking up-going back to the yard
stem -red 1.63
yip,, I think somebody listed it,,, point is many forget their tools,,software or services,,, say somebody buys your program-- well it helps them to make money- a tool=write off.. lets say, they say they cant get the info except at pay sites,, sorta like this one-be careful guys,, this does have a free part too,, then they can take that off too..
Suppose you really need 3 or 4 monitors to keep track,,=write off
Really if you can make an arguement for it and have a reciept you can write it off.- That is all they ask of you.
anybody you paid for insight,info or tools,,,-the idea is you 'needed' them to make your profits.
Newsletters, pay newswires, charting
upgrades to puter,, office supplies,,,, did you have to 'rent' anything while traveling,,, -hotel for a laptop or net cafe for useage.
The bottom line where and what did you spend for the ability to trade.
nice job, should do well
look for dips,, :
Re: anybody listening the short sellers on cnbc right now?
there going long and are bullish-fwiw,, said the markets will "rip" for a few days, when it begins
thank you, added alot to jdsu past couple of days while it was red.
1 of the most liquid techs,, moves well
Traders should hope for a red open- hopeful dips on 'fear' or conpitualion (sp) ,, any as for the sectors,, traders love tech,, but your biggest r/r is going to be $ backed sectors,, ie: banks, brokers etc,, hope/look for dips and get in.--it all ties back to the $
anybody enjoy IPIX today from buying the dips @ $2 the past 2 days?
money running from GS will run into these other ones:NTBK, ET,IBN,GROW- jmho
fwiw-$xbd+bkx--banks and brokers are near bottom to the point of saturation per an oversold index
you want p&d,, go over to i/p,, there is your p&d crew hang out
fd-no position in any of them today,,watch grow,, still no vol,, but has good bidders,, the 4.50 on the sell side is somebodies gtc order-i figure they will really regret that later.
Already pounded the table on it,,
dont know about pop,, but go up -odds are likely yes for thrusday:
Symbol Name Close Change % Change Date
AMKR Amkor Technology, Inc. (AMKR) 13.38 +0.48 +3.72% 2004-3-24, 14:08ET
ET E*Trade Financial Corp. (ET) 12.32 +0.01 +0.08% 2004-3-24, 14:03ET
FHRX First Horizon Pharmaceutical Corp. (FHRX) 14.80 +0.03 +0.20% 2004-3-24, 14:04ET
IBN Icici Bank Ltd. (IBN) 13.87 +0.25 +1.84% 2004-3-24, 14:03ET
KEP Korea Electric Power Corp. (KEP) 10.22 +0.05 +0.49% 2004-3-24, 14:03ET
LRW Labor Ready, Inc. (LRW) 11.48 +0.06 +0.53% 2004-3-24, 14:02ET
NTBK Net.B@nk, Inc. (NTBK) 12.05 0.00 0.00% 2004-3-24, 14:07ET
ORCL Oracle Corp. (ORCL) 11.60 +0.20 +1.75% 2004-3-24, 14:08ET
RDA Readers Digest Assn, Inc. (RDA) 13.81 +0.01 +0.07% 2004-3-24, 14:03ET
List Notes:
added to gems red 2.26
how about jdsu add on @3.96 to 4.07-on friday,, bet the street will chase it if market is green tuesday
gold is fine,, the $6 short program is not kicking in due to connectivety-imho,, on another note-- I have an appointment--be back later,, dont want to bother with emails-no time
who is chasing SIGA for me? When they should be buying GEB-red?
simply amazes me,, a momo can go 200-500%,, and I cant get any interest in a defensive value that other wises hits the stat factor of the momo's.
Red day,, - I am happy for that.
of course,, I stick to my bio/pharm views-long
early this am-may have changed- I havent checked:
$ftse-4334 (-83)
$nikk 11318 (-100)
food commodities, metals,, security/defensive/military type stocks,, fuels flat while waiting on opec. looks like a buyers strike due to overnight terrorism
fears-dow gapping down and may push hard to 9700,, if trend were to continue, expect 9k+/- this week,,,naz 1800-1700,,
Watch your stocks based in the above mentioned sectors,, and value stocks,, telecom-pure-may be first of tech'ish to rebound down the road
--------------------------1
Hamas Spiritual Leader Yassin Killed in Israeli Raid
March 22 (Bloomberg) -- Sheikh Ahmed Yassin, the spiritual leader of the Palestinian Islamic group Hamas who advocated Israel's destruction, was killed by Israeli forces early today in the Gaza Strip, the army said. The killing of the most senior Palestinian figure since the start of the second Palestinian uprising in 2000 drew condemnations from European leaders. Yassin and as many as seven others were killed by rockets fired by helicopters at daybreak as he returned home in a car from a mosque, Israel Radio said. ``Yassin, responsible for numerous murderous terror attacks, resulting in the deaths of many civilians, both Israeli and foreign, was killed in the attack.' the army said in an e-mailed statement.
The killing comes after the March 11 Madrid bombings in which 202 people were killed and more than 1,500 were wounded by terrorists. The U.K., France, the European Union and Russia condemned the attack which makes a summit meeting between Israeli Prime Minister Ariel Sharon and Palestinian Authority Prime Minister Ahmed Qureia remote. Since Qureia took up his job in October, two planned meetings have been scrapped. Egypt and Jordan, which have peace treaties with Israel, also condemned the killing, Agence France-Presse reported.
Hamas said the U.S. ``must take responsibility' for the attack, Associated Press reported. European stocks fell amid concern that terror attacks may increase after the killing.
Israeli Actions
Israel has stepped up actions against Palestinian groups since an attack last week on the port of Ashdod killed 10 people. Seven Palestinians were killed
in clashes with Israeli troops in Gaza yesterday. Sharon is seeking to withdraw Israeli troops and settlements from the Gaza Strip later this year.
Yasser Arafat, president of the Palestinian Authority, condemned Yassin's killing as a ``barbaric crime' and called for increased resistance against Israel's
occupation of the West Bank and Gaza Strip.' ``President Arafat has decreed three days of national mourning in the Palestinian territories and among the
diaspora,' the authority said in an faxed statement. The killing is ``unlawful' and unacceptable,' U.K. Foreign Secretary Jack Straw said. French Foreign Minister Dominique de Villepin said the killing was a setback for the Middle East Peace process, AFP reported. The attack is ``very bad news' for peace EU foreign policy chief Javier Solana said, the agency added.
Palestinian Killed
A Palestinian of about 18 years old attacked and lightly wounded three Israelis in the Tel Aviv suburb of Ramat Gan this morning after the Yassin assassination, Police spokesman Gil Kleiman said. The attacker, who used an axe or blunt object, was arrested and police are searching for the car that dropped him off, he said. An explosion was heard at the Erez border crossing between Israel and Gaza, the newspaper Ha'aretz said on its web site. The explosion, which was on the Palestinian side of the crossing, was probably a mortar attack, it said. A 13-year-old Palestinian boy was killed by Israeli troops during a demonstration in Gaza in support of Yassin, Agence France-Presse said, citing Palestinian medical officials said. Sharon personally gave the order to kill Yassin several days ago, and other Hamas leaders from the group's military and political wings are being targeted as well, Israel Radio said. The army said it imposed a curfew on the West Bank and the Gaza Strip after the killing.
Revenge
Leaders of Hamas, the biggest of the Palestinian groups that have staged attacks on Israelis during three-and-a-half years of unrest, vowed revenge after the killing. ``The Zionist enemy should understand that Palestine will turn to a volcano and to hell in their faces,' Ismail Haniyeh, a Hamas spokesman and assistant to Yassin, said to reporters shortly after the assassination. Israel is targeting Yassin and other Hamas leaders because the Ashdod attack marked an attempt at a ``mega-terror' attack and because Israel wants to weaken the organization before it withdraws from Gaza, said Eytan Gilboa, a professor of political science at Bar-Ilan University near Tel Aviv. ``The Ashdod attack represented a step up on the ladder of escalation,' Gilboa said in a phone interview. ``It was meant to create a mega attack and so the response had to be appropriate.'
Hamas Weakened Hamas will be weakened by Yassin's absence because he was involved in strategy and planning and because he was a symbol of the Islamic resistance movement, Gilboa said. Yassin, aged about 67, partially blind and confined to a wheelchair, escaped an attempt to kill him last September when the Israeli air force dropped a 250-kilogram (550-pound) bomb on a building where he and other Hamas leaders were meeting. He was held in Israeli jails for eight years for ordering the execution of Palestinians helping Israel and was released in 1997 in exchange for the release of two Israeli agents being held at the time by Jordan. ``There is no person who takes part in terrorism who has immunity, even if he's a sheikh,' Israeli Finance Minister Benjamin Netanyahu, a former prime minister, told Israel Radio. Avraham Poraz, Israel's interior minister, voted against the assassination during a meeting of Sharon's cabinet, saying the magnitude of the Palestinian response would be too high. ``I don't think we can eliminate Hamas and other organizations like them by killing religious leaders,' he said in an interview with Israel Radio.
---------------------2
Taiwan Protesters Demand Vote Recount; Ruling May Take 6 Months
March 22 (Bloomberg) -- Thousands of Taiwanese protesters demanding a recount in Saturday's presidential election blocked a main boulevard in Taipei for a second day as the head of the High Court said it may take six months to make a ruling. A decision on whether to recount votes or annul the election will be made by a three-judge panel, which needs time to review the evidence, Chang Chin-hsiung said on television. Chang said he couldn't give a timetable for a recount and that annulling the election would take between one to six months. The court ordered the sealing of about 13,000 ballot boxes after President Chen Shui-bian, 53, defeated National Party chief Lien Chan, 67, by a quarter of a percentage point. The opposition also demanded a probe into speculation that Chen faked an assassination attempt on Friday to win sympathy votes and stop 200,000 police and servicemen from voting. ``Taiwan has to resolve the issue soon because the economy and markets will be affected as discontent lingers,' said Wing Y. Wu, China representative of Fitch International Credit Rating Co. Taipei protesters, who numbered 30,000 yesterday, dwindled in numbers overnight and erected tents against the rain on the street in front of the presidential office. The size of the crowed swelled to several thousand today. The Nationalists plan an islandwide protest for Saturday, spokesman Daniel Pang said.
Markets Slump
The benchmark TWSE stock index tumbled 6.7 percent to 6359.68, led by Taiwan Semiconductor Manufacturing Co., and may fall further tomorrow because the exchange limits daily declines in shares to no more than 7 percent. It was the biggest drop since January 1996, ahead of the island's first direct presidential election after four decades of martial law. ``Unless the crowd at the presidential office disperses, the market will have strong selling pressure for the whole week,' said Tracy Chen, who oversees $73 million of assets at Prudential Securities Investment Trust Co. in Taipei. Finance Minister Lin Chuan said government officials will meet later today to decide whether to activate the National Stabilization Fund, which would put NT$100 billion ($3 billion) at their disposal to buy stocks. ``If I had stocks, I would sell them,' said protester Lew Wei-liang, 49, an English teacher. ``You don't know how long this will last. This might be another civil revolution.'
Shooting
Chen defeated Lien by 30,000 of 13 million votes cast, taking 50.1 percent of the vote to Lien's 49.9 percent. About a third of a million ballots were invalidated. The Nationalists would have to prove that a miscount changed the results of the election in order to win a recount, according to Erik Chen, a lawyer with Winkler Partners a Taipei-based law firm. Chen sustained a flesh wound to his abdomen and Vice President Annette Lu, 59, was grazed in the knee during the campaign shooting. Lu later denied the shooting was a stunt. ``The shooting was the major factor that caused the election result,' said Albert King, chief investment officer of Prophet Capital Inc. ``My information prior to the shooting showed that Lien would win by a 5 to 10 percent margin.'
The Taiwan dollar fell 0.3 percent in morning trading, its biggest drop since October, and the yield on the 10-year bond slumped to 2.17 percent from 2.33 percent. This news ``takes away some of the confidence in the institutions of Taiwan with the increasing suspicion there may be some kind of tampering going on with election results,' said Michael Kurtz, a Hong Kong-based strategist for Bear Stearns Cos. Police in the southern city of Tainan, where the shooting occurred Friday, asked the public to provide leads in the case. They released a sketchy drawing of a possible suspect. No arrests have been made, and no motive disclosed. The government rejected a call by Lien for an independent investigation.
``We want a recount and an investigation of the gunshot,' Lien told Bloomberg News in an interview at last night's rally in Taipei, where his supporters faced off with riot police across barricades twined with razor wire.
China's Response
Yesterday's protest in Taipei was the biggest since November 2002, when 100,000 farmers marched on the capital to protest a financial-industry cleanup.
The election protests have prompted China to put its army on alert, the South China Morning Post said, citing unidentified people. China may invoke a newly revised constitutional provision that allows it to declare a state of emergency in Taiwan, which it considers a renegade province.``Taiwan is in a very grave situation now,' said Li Yihai, a Taiwan analyst at the Shanghai Academy of Social Sciences. ``I think the Chinese government will take measures in face of such a situation.' Chen is considered a traitor by China for his pro- independence stance.
Business Ties
Taiwan's defense ministry said it had not detected any unusual troop movement in China's Fujian province, 150 kilometers (93 miles) across the Taiwan Strait, Agence France-Presse reported, citing ministry spokesman Huang Suey-sheng. The island's military had been monitoring Chinese troop movement in the run-up to Saturday's presidential election. ``There is a danger money may flow out of Taiwan to China as local businessmen become disheartened by what's happening,' Fitch's Wing said. Many business people from Taiwan had voted for 67-year-old opposition leader Lien Chan because they considered him to be better for their interests, said Ye Huide, chairman of Long Fong Group, the biggest Taiwan food company in the mainland. ``All Taiwan businessmen investing in the mainland are in a bad mood now,' Ye said. ``Chen's victory would deal a hard blow to us Taiwan businessmen. But what's more important, the Taiwan economy as a whole would be hurt.'
ugly day,, stocks I believe have upward momentum anyways
GEB-phase 3 neck/head cancer
LUCY-cheese/milk- food comodities are rising -soybeens up big again
GROW- been pounding the table on this-- value+growth expotentually when you consider how high gold can go.
Recent write up in barrons,, small float, but NOT A PUMP AND DUMP:
http://webreprints.djreprints.com/914850100032.html
MONDAY, JANUARY 19, 2004
FEATURES....................................................................................................
By CHRISTOPHER C. WILLIAMS
All That Glitters
U.S. Global Investors' funds are shining as commodity rally
spreads beyond gold
By CHRISTOPHER C. WILLIAMS
BEING A GLOBAL COMMODITY INVESTOR has its perks, such as flying off to exotic locales. But Frank Holmes can readily relate the downsides. The chief investment officer for U.S. Global Investors, a San Antonio firm that boasts some top-performing natural-resources funds, recalls a friend who had an AK-47 stuck under his chin by a rebel while visiting a copper mine in the Congo.
Holmes himself experienced the exhilaration of his plane running out of gas and setting down on an Alaskan highway 10 years ago. He made a new rule: "Anything I fly must have twin engines and instruments," he says. That harrowing trip ultimately proved worthwhile. Not only did Holmes live to tell about it, his investment in the Alaskan mine he was visiting eventually increased seven-fold.
Such adventures have paid off in other ways. His $250 million Global Resources Fund is the No.1-ranked natural-resources offering for the past one, two and three years, returning 99.56%, 135%, and 103%, respectively, over those spans, according to fund tracker Lipper. Global Resources has begun 2004 in fine shape: It's up 2.46%, surpassing the 1.90% gain of its peers and the Standard & Poor's 500's 0.84%.
The fund's getting a tremendous boost from the commodities jump. If you're thinking of springing for some bling-bling this Valentine's Day, get ready to dig deep into your pocket. Platinum increased 40% in the past year to over $850 an ounce. Switching to gold offers little relief. An ounce of the yellow metal now fetches $420, up from $351 a year ago. While consumers sweat the prices, commodity and natural-resources mutual funds are hotter than a smelter. They were the top-performing sector equity funds in the fourth quarter, returning 18%, according to Lipper. The sector posted a 33% return for all of 2003, while gold stocks sparkled with a 58% gain.
But can natural resources funds be world-beaters again in 2004? It's risky to chase last year's winners. But industry bulls like Holmes are convinced the sector will continue to shine. "We are in a secular bull market in commodities that began in 2001 and could last to 2010," he says.
The popularity of natural resources after many years on the investment sidelines is providing a growth spurt to U.S. Global, which has seen assets increase to $1.7 billion from $1.1 billion a year ago. U.S. Global offers 12 no-load funds, all team-managed. Holmes, the CIO since 2000, has developed a highly adaptive investment strategy that has allowed his six-analyst team to stay atop the quickly shifting trends of the global commodity markets.
There's a confluence of factors driving commodity pricing. China is gobbling up the world's resources, from nickel to steel, to feed white-hot industrial growth. Prices for many metals have shot up as producers scurry to ramp up production to meet demand. As Holmes notes, environmentalists are preventing mining in many areas of the world; Iraqi and Venezuelan oil production are lagging; and a weakening dollar makes gold "a respectable asset class."
The surge in commodity prices could cool a bit from a torrid 2003. Indeed, gold and gold shares appear to be correcting now.
Frank Holmes of U.S. Global Investors devoutly wishes for continued gains in gold and commodities, along with many happy landings.
Holmes thinks gold could dip to around $400 in the near term, but believes it will ultimately test the $440 to $460 level over the next 12 months. Holmes' pure play on the metal is his Gold Shares Fund, in which he recently raised cash (as he did in the Resources fund), in anticipation of this correction. Gold Shares, which has $82 million in assets, returned 65% over the 12 months ended Jan. 12, surpassing the 53% gain of other funds in the Lipper gold category. The fund scored big with Ghana-based Ashanti Goldfields , which is being bought by South African AngloGold .
The firm's largest fund, the World Precious Minerals also is basking in gold's glow. The fund has 35% of its $300 million assets in gold producers such as Wheaton River Minerals and Northern Orion and has zoomed 101% over the past year, according to Lipper, outpacing 97% of its rivals.
Started in 1968, U.S. Global has been riding the fortunes of the gold business since launching the first no-load gold fund in the 1970s, according to Holmes. The 20-year depression in gold shrank the firm's assets to around $250 million in 1989 from $1.3 billion. That's when Holmes, a Toronto-based portfolio manager, bought a controlling interest in the investment firm for $2.2 million, becoming its CEO and chairman. Happy to move to warmer climes ("Snow is only for skiing," he says), the 48-year-old Canadian native now lives in San Antonio with his wife and two sons.
Holmes's investment strategy uses a "matrix of many fundamental and statistical models" to identify the different cycles defining countries, sectors, and companies: "We use cycles to create themes and monitor them to see if they're on track;" his models "pick the best companies within those cycles." China, for example, is going through a 10-year to 20-year capital-goods cycle, where it's looking to buy Caterpillar tractors, and that could quadruple its gross domestic product to $4 trillion, according to Holmes.
He plays the growth in China through his China Regional Opportunity Fund, which has about 22% of its $70 million assets in finance firms, such as HSBC Holdings . He also owns copper-producer Jiangxi Copper, which saw a fivefold gain in the past year on the Hong Kong exchange.
The China fund was the top-performing China-region fund for the one-year and two-year periods ending Dec. 31, returning 81% and 59%, respectively. China, in fact, was the best-performing emerging market for 2003, according to Lipper, soaring more than 150% in U.S. dollars. Despite their run-up, Holmes contends Chinese equities remain attractive, trading at 12 times earnings, cheaper than the U.S. market's 20 times multiple.
Holmes looks for the last two years of the U.S. presidential cycle to produce a strong market, robust economy and a falling dollar. Hence, looking to buy sectors that stand to benefit from a lower currency, his firm overweighted technology companies, to positive effect, for his All American Equity Fund, which invests in blue-chip growth stocks.
Holmes, a marathoner and hoops junkie, admires the creativity in great athletes that allows them to respond to the action before their less-talented rivals. In the same way, he says his system is highly dynamic and flexible, allowing the team to buy chemical stocks, for example, when the prices of oil and gas are falling and rotate into energy when oil and gas prices rise.
These strategies have helped Holmes' Global Resources Fund stay ahead of the game. So has placing 45% of its assets in basic materials. Energy and precious metals also consume 45% of the fund. The fund's analysts have lowered its gold exposure over the past year to 15% to 20% and increased exposure to nickel. Holmes agrees with a recent Barron's article ("Gold's Bugs," Dec. 8) that gold coins might be a better bet now that some gold stocks are getting a bit overvalued. Holmes has also increased the portion of assets in Canadian income/royalty trusts to 20% from 5%, because he was attracted to their dividend. Two such holdings: Enerplus Resources (which was featured in "Yield Gusher," July 21) and Bonavista Energy Trust, a new addition to the fund. Each stock offers a dividend yield above 10%.
Holmes also favors companies whose stocks correlate with the direction of the commodity they specialize in, and that generate increasing growth in cash flow and reserves. Furthermore, he also targets what he calls "bio-metallic" companies — those that produce two metals. One of the fund's biggest gainers, Vancouver-based Wheaton River Minerals, for example, is a gold and copper producer. Traded on the Toronto Stock Exchange, it's up 148% over the past year to a recent $3.85. That return pales in comparison to the 400% return Holmes realized on his bet on Apollo Gold . He bought shares of the zinc and copper producer in bankruptcy two years ago for 80 cents a share, becoming its largest shareholder. The stock now fetches $2.94 a share. He now owns less than 10% of the company's shares, down from 15%.
Holmes has had an easier time prospecting for investments than investors for his funds. He notes that U.S. Global had four of the top-50 performing funds of 2002. But "no one put money in them," he laments. "No one cared about the asset class."
Another significant turnoff might have been the fund's high expense ratios. Several months ago, Global Resources fund, for example, hit investors with a whopping 3.75% annual cost. Holmes has since lowered that to 1.52%, below its peer's average of 1.92%. Assets in the fund have more than doubled over the past 60 days, half of it new money — proving that while diamonds might be a girl's best friend, as the saying goes, for fund investors, it's low costs.
--------------------------------------------------------------------------------
At A Glance
Global Resources
7900 Callaghan Road,
San Antonio, Texas 78229
800-873-8637
Top 10 Holdings
Percentage
Company Of Portfolio*
Northern Orion Resources 2.69%
Wheaton River Minerals 2.37
Bonavista Energy Trust 1.89
Energy Savings Income Fund 1.72
EOG Resources 1.72
Enerplus Resources 1.70
Burlington Resources 1.54
PetroChina Company 1.32
CNOOC Limited 1.30
Acclaim Energy Trust 1.29
T O T A L 17.54%
*as of 12/31/03
Sources: U.S. Global Investors; Thomson Finl/Baseline
having a pretty good day
im basing it on gold quotes I have read from goldbug newsletters-yip,,i'll be out long before 1800- got plenty of flowerbeds,, dont need another 'tulip'
this christmas I was back home at my old room at mom's,, met a friend of my sons who inherrited a bunch of very old (very good) books about gold,, anyway this kid was going to trash the books.. I got him to give them to me and told him I would give them back to him later (when he grew up)-i will
I have a target of $550-800,, more($1800-2400 is possible on market decline pump from goldbugs)
ps- gold closed higher
normally I agree with cramer,, but not on his gold views. The $usd must come down,, means emotions will take gold up as a hedge. Kudlow made the same blunder yesterday.
add JDSU to your watchlist
bought gold dips,, or another way to put it,, dips of next sector to go strong,, I think this is post 18 for the day
I feel 'safe' right now in bio/pharm during red days,, so I look around for not overbought,,that can be way oversold,, and as I sell others or clean a portfolio out,, I add while its red,, market wont stay red for ever,, and you just told me you will buy it from me green,, well maybe not you but somebody will later,, I dont need the very top or the very bottom,,
we may just stall a bit inside the 50/200dma channel-zig zagging back and forth--market is tired of the old runners,,, needs and wants new ones or at least for valueations to come down,, meantime a back up to 9k is sort of a 'zero' line vs the $usd,, we already peaked at 120% and can again,, is the market going to crash like 2000-no,, unless your in the wrong stocks,, plenty of stocks go up in a down market. You buy them red on green market days
yip,, you thought I was a nut on elanz at .22+,, I'll let that go-lol,, enjoy your glory,, some of these web guys need to find you the best 'finger' link or pix or yahoo+
magnify it for tham--when eln hit $22 and the 'run' begins :)
I think OBL was moved to 2nd in value not control,, I guess due to health etc..
hrsh,, 1.49,, cash=1.45+/--yip boring
since most traders like tech,, CPTH 1.99,, tends to channel back to 2.40/2.50
AND they are not front loaded with pumpers,, just a standard play within my views of staying 'in-sector' bio/pharms will be teh neutral to long/strong sector of the year,, not a day to day thing
rmti +rmtiw,, yes . Low vol-no sellers,, just following my viewsw in bio/pharm land,,,,,read:
RMTI-3.92
Shares Outstanding: 8.51M
Float: 7.90M
Rockwell Medical Technologies, Inc. manufactures, sells and distributes hemodialysis concentrates and other ancillary medical products and supplies used in the treatment of patients with end-stage renal disease. The Company supplies medical service providers who treat patients with kidney disease. Its products are used to cleanse patients blood and replace nutrients lost during the kidney dialysis process.
Rockwell Medical Technologies, Inc. Reports Fourth Quarter Earnings Per Share of $0.01; Quarterly Revenue Reaches Record $4.1 Million; Company Turns Profit for 2003 on 30.2% Increase in Revenue
Thursday February 26, 8:05 am ET
WIXOM, Mich., Feb. 26 /PRNewswire-FirstCall/ -- Rockwell Medical Technologies, Inc. (Nasdaq: RMTI - News), a leading, innovative dialysis products manufacturer serving the healthcare industry, today reported results for the fourth quarter and year ended December 31, 2003:
Fourth Quarter 2003
Fourth quarter net income was $100,026 compared with a ($72,847) loss for the fourth quarter of 2002.
Net earnings per share for the fourth quarter improved to $.01 compared with a loss of ($.01) in the same quarter last year.
Revenue increased to a record $4,142,975 in the fourth quarter, a 15% improvement over the same period in 2002.
Gross profit margin improved to 19.2% in the fourth quarter compared with 15.6% in the fourth quarter last year.
Dri-Sate® Dry Acid Concentrate sales increased 33% in the fourth quarter compared to the same period in 2002.
Year Ended December 31, 2003
Net income for 2003 was $4,853 as compared to a ($980,711) loss in 2002. Results for 2003 included R&D costs of approximately $250,000 related to the development of Rockwell's proprietary dialysate iron-therapy product.
Net income for 2003 reflected a $985,564 improvement, or $.12 per share, compared with 2002.
Revenue increased to $14,970,144 for 2003; a 30.2% improvement in revenue over 2002.
Gross profit margin improved 4.5 margin points to 17.1% in 2003 as compared with 12.6% in 2002.
Dri-Sate® Dry Acid Concentrate sales increased 34% in 2003 as compared to 2002.
Mr. Robert L. Chioini, Chairman, CEO, and President of Rockwell Medical Technologies, Inc. stated, "We had a strong fourth quarter and an exceptional year. We achieved record financial performance which was driven by strong demand for our products, solid growth in our sales and improved efficiencies in our operations. Rockwell's core concentrate business is profitable and we expect it to continue to become more so going forward. Looking forward, our priorities are to obtain FDA approval to market the Company's proprietary iron-therapy product and to continue to gain market share in our core concentrate business."</B>
Rockwell has been developing an innovative, proprietary concentrate product containing ferric pyrophosphate (FePPi), a water-soluble form of iron, to be used as a treatment for iron deficiency in dialysis patients. The Company is seeking FDA approval of this product which it intends to market. As compared to intravenous (IV) iron administration, the Company believes that administering iron through its dialysate is a safer and more effective method for maintaining iron balance in dialysis patients, while at the same time eliminating the associated nursing and pharmaceutical IV iron administration costs. Rockwell licensed the exclusive rights to the patent which covers the pharmaceutical composition, methods of use and delivery of iron to be administered via dialysate to both hemodialysis and peritoneal dialysis patients. <B>The Company estimates that the U.S. dialysis market for IV iron generates between $270 million to $300 million in annual revenue.</B>
Rockwell Medical Technologies, Inc. is an innovative leader in manufacturing, marketing and delivering high-quality dialysis solutions, powders and ancillary products that improve the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and suffer from chronic kidney failure, a condition also known as end stage renal disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased 6-8% on average each year over the last decade. Rockwell's products are used to cleanse the ESRD patient's blood and replace nutrients in the bloodstream. Rockwell offers the proprietary Dri- Sate® Dry Acid Mixing System, RenalPure(TM) Liquid Acid, RenalPure(TM) Powder Bicarbonate, SteriLyte® Liquid Bicarbonate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items. Visit Rockwell's website at www.rockwellmed.com .
Certain statements in this press release with respect to Rockwell's business and operations, including the statements regarding the Company's ability to increase and sustain a profitable level of operations and the potential of the Company's proprietary dialysate iron product, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward- looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, general economic conditions, economic conditions in the hemodialysis industry, competitive factors, failure to obtain FDA approval, and other factors discussed in Rockwell's reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Income Statements
For the quarter and year ended December 31, 2003 and 2002
(Whole dollars)
Quarter Ended Quarter Ended Year Ended Year Ended
December 31, December 31, December 31, December 31,
2003 2002 2003 2002
Sales $4,142,975 $3,604,987 $14,970,144 $11,495,764
Cost of Sales 3,346,866 3,042,879 12,414,462 10,042,000
Gross Profit 796,109 562,108 2,555,682 1,453,764
Selling, General
and Administrative 650,493 614,725 2,367,773 2,318,945
Operating Income
(Loss) 145,616 (52,617) 187,909 (865,181)
Interest Expense,
net 45,590 20,230 183,056 115,530
Net Income (Loss) $100,026 $(72,847) $4,853 $(980,711)
Average shares
outstanding 8,510,828 8,303,881 8,495,134 7,867,464
Basic & Diluted
Earnings (Loss)
per Share * $.01 $(.01) $0.00 $(.12)
- Fully diluted shares outstanding were 9,229,754 for the fourth quarter of 2003.
Rockwell Medical Technologies, Inc. and Subsidiary
Consolidated Balance Sheets
As of December 31, 2003 and 2002
(Whole Dollars)
DECEMBER 31, DECEMBER 31,
ASSETS 2003 2002
Cash and Cash Equivalents $132,227 $133
Restricted Cash and Cash Equivalents 8,662 13,965
Accounts Receivable, net of a reserve of
$34,500 in 2003 and $51,500 in 2002 2,169,564 1,722,455
Inventory 1,350,291 1,476,506
Other Current Assets 103,971 118,316
Total Current Assets 3,764,715 3,331,375
Property and Equipment, net 1,943,376 1,730,594
Intangible Assets 314,071 336,201
Goodwill 920,745 920,745
Other Non-current Assets 127,467 134,776
Total Assets $7,070,374 $6,453,691
LIABILITIES AND SHAREHOLDERS' EQUITY
Short Term Borrowings $642,018 $417,254
Notes Payable & Capitalized Lease
Obligations 307,959 194,799
Accounts Payable 1,692,540 1,680,842
Accrued Liabilities 329,519 333,792
Total Current Liabilities 2,972,036 2,626,687
Long Term Notes Payable & Capitalized
Lease Obligations 926,230 781,504
Shareholders' Equity:
Common Share, no par value, 8,519,405 and
8,488,283 shares issued and outstanding 11,832,220 11,724,507
Common Share Purchase Warrants, 3,766,071
and 3,753,460 shares issued and
outstanding 320,150 306,108
Accumulated Deficit (8,980,262) (8,985,115)
Total Shareholders' Equity 3,172,108 3,045,500
Total Liabilities And Shareholders'
Equity $7,070,374 $6,453,691
--------------------------------------------------------------------------------
Source: Rockwell Medical Technologies, Inc.
Shares Outstanding: 8.51M
Float: 7.90M
IF you took the time to read this post- watch RMTIW
GEB--simple math:1.75+/-,, waiting on 1.94 for breakout run to 2.50,,, dips buying pays off,, chumps chase
plenty of stocks doing well,,, geb- bio making a very nice chart-- should do a nice wiggle late today or friday