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Non-Tech : OAKLEY- NYSE:OO
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To: Gary G, Weathersbee who wrote (663)6/26/1997 3:28:00 PM
From: Dr. Jeff   of 1383
 
RAYS is actually up 1/4 point which is a big move for it! If you look back to the first Oakley breakout on June 4th on 1 million + volume when it closed at 12 1/2; it was the same day that BOL was upgraded. The turnover of this stock is very bullish for good moves up in the future. Today was a classic example of sellers chasing the price back down after a nice climb. They wouldn't sell it at 14 1/4 because greed wouldn't let them. But as other sellers came in and drove the price down, then they decided to sell. As it droped another 1/16th at a time, more sellers moved in! This is actually very bullish for the stock in the long run, because the weak hands(short-term)are out of the stock. Some people are attempting market timing and may be lucky to get it right. I know I could have sold mine at 14 5/16 this morning and be buying it back right now for 13 11/16. (ah, hindsight!) But just the same, it could be 14 3/4 now, a likely scenario if I had sold(past luck). But I ignore the noise and hold. It is strange how people are so eager to sell a stock that is obviously showing serious strength recently. Oh well, they can kick themselves later when it's much higher. Enjoy the ride, GO OO..............
p.s. Michael Jordan owns nearly 2 million shares!
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