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Non-Tech : Claire's Stores (CLE) NYSE
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To: Steve who wrote (55)12/14/1996 4:45:00 AM
From: Archie Bunker   of 619
 
He can have my 4000 shares at 22.50 exactly what he sold his for!
This is no big deal! Less than 16 months ago, there were about 24 million shares. Claire's split the stock twice within one year, they diluted the stock too much and now we are paying for it. I think when you have large amounts of stock outstanding on small cap stocks you then allow the traders and momentum players to rule.
They ride it up and then short it down, exactly what we are seeing. The long term people hold stock and take the beating in the short term, however it is very disconcerting to lose so much of your gain in such a short time. We are now asking ourselves if it's heading south for good this time and should we get out, I think we are within sight of the bottom or there and after the New Year it will start back up!
Lets hope the market remembers to reward companies with good earnings.
Our biggest worry is the Dec same store sales, remember he said that Nov was a aberration because of fewer days after Thankgivings. They should pick up these sales in Dec and be way ahead of last year for the month of Dec. If this happens the stock will pop, if it doesn't
I'am pulling the plug and will short it ( if I can ). We need to watch the trading and trend a few days before the release of this data to protect our investments. If any other insiders decide to sell this will also be a signal that the news ain't good!
Only my opinion!
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