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Non-Tech : Claire's Stores (CLE) NYSE

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To: BYRON S DOHERTY who wrote (399)8/9/1997 3:17:00 PM
From: jason D.   of 619
 
Byron-

I agree. CLE's relatively strong close bodes well. All such similar days in the past have indicated a short-term bottom. If CLE doesn't break 20, it will break 23. It may trend sidewise for a few days, but it is simply not time for a top. Trends change for reasons. CLE is not overvalued, business is strong, and they have not approached previous highs. If the market doesn't tank, expect this to be just a minor shakeout of those who would have sold at 22 3/4 next time around anyway.

Next time CLE approaches that level, it will break through because of today's shakeout. Out with the stupid money, in with the smart money.

Happy Investing!

jason
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