Marty, let me help you out with your imagination. Sales in the US and Europe continue to increase, and, with a deteriorated Can $ , these earnings are magnified. The Canadian dress business has improved too. All this means a much improved 3rd quarter. Nothing that I'm saying is omitted from the press release so I am not dreaming. I have said before that the company is on track, and, it's the first half that was unusually weak. It's the 3rd quarter that is the reflection of the company's true earning and sales capability at this time. While it's true that the 4th quarter is the weakest, momentum from the 3rd qtr. should be a mitigating factor. I agree that action, both up and down , has been on very few shares and this represents very small investors. There are simply no large blocks for sale below $1.00 , and, the target for most is the $1.80 level where the stock traded for a long while before the bad news came out that the company was losing money with retailing. You may recall too, that the prior trading range was $3.00 An unsuccessful underwriting , due to the recession of 1990-1992, caused the stock to drop down to the $1.80 level. So a lot of investors today are in with a significant loss and they will be unwilling to sell after being so patient. I believe that a run up to $2.00 is imminent. You are probably right, Marty , that we need two more quarters to make believers out of the sceptics. Good luck and good patience!
Joe. |
