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Non-Tech : OAKLEY- NYSE:OO

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To: grogger who wrote (983)	8/20/1997 2:49:00 AM
From: giles	of 1383

I hope there is a favorable move w/ OO this week b/c of the press release showing OO is comfortable w/earnings estimates for the next 2 QTRS or from a favorable mention of OO in the press conference of RAYS but I don't expect RAYS earnings to be good and affect OO positively---not the earnings anyway. RAYS may go up on the theory that it's all downhill from here, or with an enthusiastic optimistic outlook by MGMT of the future, but they probably won't go up based on the reported earnings themselves. I do feel that OO will now trend upward because they will be meeting earnings estimates and looking good next year on quarterly comparisons which will be a breeze to beat. Furthermore, sometime, and sooner probably rather than later, upgrades should kick in. I will be surprised if OO falls below 11 in the next year or two. If I didn't have my $ tied up in ASND, ACCL, & MYL, I would buy more OO as I think downside risk is low with really good upside potential over the next year.

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