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Technology Stocks : SHRP: The Sharper Image, Profitable making $ on Internet!
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To: PartyTime who wrote (334)8/15/1999 2:52:00 PM
From: Joe Mintz   of 353
 
I agree - a rather baffling response to all the good news. The July results were fantastic.
There can be no question about it - at current prices, SHRP represents a sheer bargain, trading with a P/E of around 16 for example.

Shareholders who stay in will most likely reap substantial rewards. Action may pick up as year-end approaches, with SHRP run-ups as the stock price catches up with the buoyant prospects.

Timing presents a major challenge - the short-term trader has little reason to take a major long/short position in SHRP until some movement becomes apparent. Probably the limit orders have become a bit clustered near the 9 to 10.5 range and have declined in magnitude based on the dormant behavior of the issue. This often happens and does not pose a cause for concern - in fact, a narrowing trading range coupled with dried-up volatility can often serve as a precursor for a major break.

When the big move comes (and it will), it should be north, based on the positive developments and rising degree of beneficial attention. Furthermore, it may be a rather SHRP move since the tightly enclosed limit orders will provide very little resistance once the initial range is broken.

I look for a break to 16-18, perhaps as early as November or December. Yet, it may require a longer wait - the people who make the most profits on this stock will be the ones who let go of the short-term timing and ride out the long climb upward.

Good luck.

J.M.
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