Sunglass Hut RAYS- Will it ever breakout? Message Board

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Non-Tech : Sunglass Hut RAYS- Will it ever breakout?

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To: Steven Angelil who wrote (622)	10/1/1997 8:25:00 AM
From: The BayWatcher	of 971

Steve, I also think RAYS is forming a very nice base at 7.75. It appears to be holding very strongly at 7 11/16 and trying to break out past 8. IMHO, we are still in an upward pattern since bottoming out in the fives. I finally started accumulating RAYS yesterday based on its technical support and because of reasons you and I have noted earlier-- heavy insider buying, improving outlook, very low expectations this quarter, new products to market, and the eventual hiring of a CEO. The CEO's comment re: improving same store sales for the remainder of the year was very positive. Previously, RAYS had said that in September they were launching their successful MIB advertising blitz in Australia. I also read a recent S&P report which gave RAYS a fair value of 8.25. At current levels, downside appears very limited with decent upside. I'm still hoping for double digits by December.

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