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Strategies & Market Trends : Action & Options- Taxikid plays

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To: Druss who wrote (2789)	11/20/1997 10:01:00 PM
From: Pancho Villa	Read Replies (1) of 4339

Druss: BFIT: IMO the breakdown to the low teens will not take more than a quarter. The financials don't lie. The formula does not work. The cash flows are negative. The leverage is absurd (A D/E ratio of almost 10X). It reminds me of RAYS (sunglass hut. I bought a in last fall at around 8 and then bought more at around six. After all they were the largest retailer of sunglasses, and you know with the whole in the ozone layer, melanoma of the eye etc. Well, I was lucky to sell at around 8 a couple of weeks ago (I have bad memory for bad trades. Tend to forget them. Well, Rays Balance Sheet is robust compared to BFITs). Also, notice what makes BFIT attractive is having such an inflated price. Once it falls it may hoover aound 6-8 for quite a while but IMO this babe goes under. One surprising thing, the analyst downgrade went unnoticed and (s)he had the B's to go from buy to accumulate when the stock is a clear sale. Anyone that thinks we are gonna be big gym fans is wrong. The appeal is limited and the revenue potential is limited too. Pancho

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