PETM - Petsmart Message Board

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Non-Tech : PETM - Petsmart

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To: Bruce L who wrote (1473)	7/12/2000 8:51:25 PM
From: Ken W	Read Replies (1) of 1508

Hi Bruce: Totally agree with you on the Yahoo boards being worthless. I've owned PETM several times in the near past and have always done well with the stock as a trader. As to the FA on the stock you no doubt are aware that the company has been buying back common on an on going basis. They have also retired 4MM of the convertible debt and are looking to open more stores in the near future. According to the last filing they have no cash flow problem (35MM) in the bank with a healthy line of credit. IMO, the base problem with the stock price is that they missed on earnings and have a very aggressive growth plan. One that the "street" (LOL) deems difficult to maintain. Frankly, I think they can pull it off particularly since they have re aligned management. In the mean time. Presently the stock needs to move above the 200dMA with the 50dMA or it will be status quo for a while with the trading range between 3.125 and 3.625. Since the present 200dMA is at 3.76 I would expect a resistance sell off at that point on any spike in the price. Hope this will begin an intelligent discussion of the stock as I'm sick and tired of the BS by the others in this stock (yahoo boards) Ken

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