Bombay (BBA): Time for a run up? Message Board

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Non-Tech : Bombay (BBA): Time for a run up?

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To: Harry W. Lowe who wrote (1)	6/12/1997 6:39:00 PM
From: Arnie Doolittle	of 202

Harry, thanks for your response. I appreciate your ta read although I think that Elliott Wave analysis is inconsistent at best. The overwhelming buying strength in BBA recently tells me that the June sells event must have gone well and that institutions are moving back into the stock, although not quietly as one would normally expect, absent fundo news. Perception must be that BBA's new products are being well received and same store sales are expected to return to a solid growth pattern. One other possibility: BBA may be on the verge of hiring a hotshot CEO that institutional investors like. This leg may be over but either strong same store sales or a new ceo annuncement would start the next move up to test resistance at 7 1/4. From there it's on to the 5/96 high of 11 7/8. BBA's history is that when it moves, it moves like a rocket up and a lead balloon down. I'm looking for 10-12 by year end but will have a hair trigger if it goes over 10. This assumes the new product line is as good as I think it is. The June same store sales will be critical. Arnie

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