The Deen's List(TM)
A service of Deen Capital Management, Inc.
Vol.1 #24           Wednesday October 15 2003           12:54pm ET

Please read carefully our disclaimers at the end of this newsletter.

Market stance: BULLISH (since Oct 3 2003)

****************************** Bought BSX ******************************

Boston Scientific Corp (BSX)

Net buy price in managed accounts(*)... $64.75
Yesterday's close (Oct 14)............. $63.83
Net change (based on avg buy price).... +$0.92
Today's volume as of 12:21pm ET........ 1.3 million ($84.7 million)
Average daily volume................... 4.1 million ($262.9 million)
This year's earnings-per-share......... $1.18 (est)
Next year's earnings-per-share......... $3.12 (est)
P/E using next year's earnings......... 20.7 (est)
Earnings growth rate, next 5 years..... 20.0% per year (est)

(*) The "Net buy price" is the total net purchase cost after commissions
for all managed accounts divided by the total number of shares.

Boston Scientific (www.bostonscientific.com) makes minimally invasive
medical devices used in cardiology, electrophysiology, gastroenterology,
radiology, urology and vascular surgery.

Here's why I bought this stock:

+ I previously bought this stock on Sep 16 (Vol.1 #1).  That was after a
true surprise on Sep 15.  On Sep 15 the stock price spiked on huge
volume -- a gap up and a breakout -- on the heels of positive clinical
trial results from its new drug-coated stent, which is poised to compete
with a similar product from Johnson & Johnson.  The stock price has since
retreated into its prior trading range, closing the gap.  However, I view
the stock chart as still in a bullish configuration.  I am buying today
at a lower price than I paid on Sep 16.  And the very exciting growth
story of this company has not changed.

+ Excellent recent sales growth:  Here are the quarterly year-to-year
sales growth rates from the last four quarters, in chronological order:
+8%, +20%, +20%, and, most recently, for the quarter ended Jun 30, +21%
to $854 million.

+ Excellent recent earnings-per-share growth:  Here are the quarterly EPS
figures for the last eight quarters:
Dec 02 vs Dec 01: 24c vs 21c
Mar 03 vs Mar 02: 31c vs 24c
Jun 03 vs Jun 02: 28c vs 22c
Sep 03 vs Sep 02: 30c vs 23c

+ Rising estimates:  According to recent data from First Call, the
consensus earnings estimate for 2003 is $1.18, up from $1.15 90 days ago;
and the consensus estimate for 2004 is $3.12, up from $2.80 90 days ago.

+ Earnings-per-share are expected to be up 164% next year.

+ Valuation:  At 21 times next year's estimated earnings and a projected
5-year annualized earnings growth rate of 20%, the stock is moderately
priced.

The above items were so compelling that I chose to buy the stock in spite
of the following negative factor:

- The company's industry group ("Medical Products") has fallen in
relative strength over the past six months, according to Investor's
Business Daily.

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************************ IMPORTANT DISCLAIMERS *************************

* All stocks discussed in The Deen's List(TM) involve a high degree of
risk.  It should not be assumed that any stock discussed in The Deen's
List(TM) or purchased by Deen Capital Management, Inc. will be
profitable.

* Past performance is not necessarily indicative of future results.

* The information contained herein has been compiled from sources deemed
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************************************************************************

Ken Deen
Deen Capital Management, Inc.
PO Box 30925
Santa Barbara, CA 93130
(805) 682-1870
deenslist@deencapital.com

Copyright (C) 2003 Deen Capital Management, Inc.