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Non-Tech : Just For Feet (FEET)
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To: lanac who wrote (419)10/21/1997 3:12:00 PM
From: Walter High  Read Replies (1) of 750
 
Lanac and Geri:

Almost everything on my ticker is up over a point today, except FEET. It very well could be that today's weakness is due to Acampora's statement since he is well-known and appears regularly on Wall Street Week. On the other hand, FEET has been showing weakness and a general downtrend since about Oct. 1st. It drifted downward this morning and when it hit 14, someone dumped about 25,000 shares which sent it lower still.

Usually, it is just about now that the stock begins to rise in anticipation of a strong sales report (which is due out about two weeks from today). If it does not turn around by this Friday, I would suspect that the sales will turn out to be weaker than management hoped.

In defense of Acampora, he has to be given credit for being one of the analysts who has been a raging bull throughout this long rise of the market. Although he is not backing off his 10K prediction for the Dow, he is now cautioning people to be prudent in which sectors they buy. That seems like pretty basic stuff to me, since there are always sectors that are out of favor and an analyst's job is to point them out to his clients. He is just naming some of them now. I guess we have to agree with Lanac that cautioning about footwear is a little lame right now since it could easily have been done several months ago. Still, I would not call him a "loser." He has been more right about this market than almost anyone else I have heard.

Walter High
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