Talking About the Trend - ResMed - August 2001
This stock is dual listed, both in the US, on the New York stock exchange,
and in Australia. Attached are charts of both. (Don't let prices fool
you, you can't buy them here for ten bucks and sell in the US for fifty).
RMD has put out 24 consistent quarters of positive earnings growth, each
time beating broking analysts expectations. Would you believe it, in the
US, there is now 4 million of the 32 million issued shares in the hands of
short sellers (according to the AFR 9th August, p 20), double that of some
weeks ago, which is double that of some months back. The trend looks up to
me, and continues to show that most amateurs do not trade with the trend,
instead trying to pick bargains, or short perceived over valued stocks. No
profits in doing that.
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