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Non-Tech : OAKLEY- NYSE:OO

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To: Brian C. Lund who wrote (887)	8/6/1997 2:56:00 PM
From: Night Trader	of 1383

So much for "expect downward earnings revisions to have now ended": Merrill Lynches new estimate for '97 is .40 and for '98 is .50-.55. This, you will have to admit, is pretty pathetic. I sold most of my oo today - I still believe in the stock long-term but at 23 times next years earnings and more than 4 times sales there are better values out there now. One should never own a stock in hope - only in expectation. Like VANS for example which I bought a large chunk of today. These are similar setups in many ways: both are small growing companies based in the LA area and selling in the sports/fashion marketplace (vans primarily makes sports and leisure shoes). Both are around $12 a share at the moment but the similarity ends at valuation : Vans will probably earn a dollar a share next year with revenues equel to its market cap (156m). Come check out the vans thread.

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