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Non-Tech : OAKLEY- NYSE:OO
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To: Brian C. Lund who wrote (824)7/18/1997 5:30:00 PM
From: Dr. Jeff   of 1383
 
Brian,
Good play! You play by the rules! That is to be commended. I agree with you that with the support being violated, things don't look too good in the near term. Judging from the pessimism that is coming into the market as a whole, A stock like Oakley is not likely to "rebound" any time soon! I don't think it will go as low as 9 however. I see the next level of support being 10 1/2 to 10 7/8. Those are the levels that I might consider re-entering. Unless of course that is broken too. On the flip side, if OO gets some positive up volume to get past 12 3/8 in the very near term, I may consider re-entry, though that doesn't seem too likely considering the sell volume. I must admit that it seems there are a lot of buyers at these levels. This could be a new support level forming (11 3/4). Several big block sells didn't move the price. Lots of trading in a narrow range with little movement, of course this is nothing to get too excited about since it did the same yesterday at 12 1/2. If it gaps down again Monday, I would be really nervous if I was holding this stock. This is a very difficult time for longs, wrestling with whether to sell or buy more, etc. I just prefer to watch until the dust settles. Let's see what next week brings........ Good Luck all..........
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