Hi Scott, I wanted to know also what was going on and I had the time to give a call to G.Canary at Claire's. He told me that there is no news that would bring the stock down. The current month's sales will include 5 weeks of sales, same store results will be posted on Thursday, July 10th, and the numbers are on target, above analyst estimates and similar in increase to last month. I asked about some 144s that I saw on Edgar indicating insider selling and he told me that Roland Schaeffer's daughter sold some shares to pay for her kid's college tuition or something like that. Other than that, it seems that nothing else is new. I checked with my brokerage to see if there was anything intriguing on the Bloomberg or on the Ibis system, and nothing is new to report. There were in fact two upward revisions in earnings for this year and next by Alex Brown of a few cents. Then, finally I looked at some charts to see what CLE was looking like over the past 20, 30, 50, and 100 days. It looked ok technically, and it seemed to me that 17 3/4 or 7/8 was good near-term support. With this, I decided to take a short term (not shorting) interest in the stock.
-Will |
