Grasshopper,
You may be right about the shoes. Time will tell. I still feel that it is a stock to avoid because of the way the company behaves. Read the press releases and news as far back as you can find, they seem clueless in many regards. Use Yahoo and search for all that you can find. There is a lot of info out there. Today, the stock actually traded up. I am always amazed when Oakley can do that. It dropped at the start and hit 10 9/16. The specialists showed a bid of 10 1/2, with a lot of size, and no one sold into it. I think that some institutional money came in to get it out of that price range because, technically, breaking 10 1/2 would have sent the stock plummeting. Many stop orders are at whole and half dollar prices. I would bet that there were many stop losses at 10 1/2. After studying today's trading, the stock upticked on very little volume, suggesting that unless there is serious follow thru on monday, it is likely to drop again. I think I might even short the stock soon because it is still in a downtrend overall, of course, the short would be short term. Best of luck...... |
