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Strategies & Market Trends : The Dead Cat Bounce Theory
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To: Crabbe who wrote (1711)7/12/1997 1:50:00 AM
From: Jim H   of 1836
 
Rodney and all,

Old America Stores (OASI) down 5/8 to 1 on Friday on heavy volume. Down from 4.50 range just a couple of months ago. They have had some heavy write-offs recently. Their CEO resigned (was fired, I guess). They are in the process of closing some stores. There is certainly a risk that they will go belly up.

If they survive, however, there is considerable upside potential. The book value is over $10/share. Sales over $30/share. Could get a DCB on almost any good news.

Anybody familiar with this one?

JimH
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