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Non-Tech : Sunglass Hut RAYS- Will it ever breakout?
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To: Duke who wrote (519)8/22/1997 9:32:00 PM
From: Steven Angelil   of 971
 
As soon as I sold most of my shares yesterday, I should have immediately sold the same amt. of shares short. An idiot could have said the stock was going down again today. It made me sick to look at the chart after yesterdays action. We had just closed outside of the upper Bollinger band, which means that in all likelihood, the stock will continue in the same direction. Wrong. I feel like I made a "rookie" mistake by not buying those puts or selling the stock at 10. I neglected to think that the absolutely worst case scenario could indeed occur. That cost all of us big time. Maybe we all learned a valuable lesson. Boy, the stock market has a more expensive tuition than Harvard or Princeton:-()

Good luck, maybe all the bears are through with this stock and the tide might turn quickly on ANY good news, i.e. new CEO, or even a decent rebound in Aug. sales.

Steve
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