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Non-Tech : CHKE-Cherokee

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To: Marty Leder who wrote (11)	12/25/1997 9:43:00 PM
From: Rick Slemmer	Read Replies (1) of 46

Marty: OK, here we are. It's official; the $5.50 dividend has been declared. biz.yahoo.com The stock's performance wasn't that great on the 24th, but most people were on holiday break anyway. The timetable leaves little room for traders to make a decision between Dec 23rd and January 3rd and still have a holiday. Whoever took two weeks off from December 22nd is left high and dry. Design? Coincidence? Whichever, the whole deal is very interesting, especially since the stock traded as high as 13.875 on the 24th and then retreated to 13.375 the same day. Who sold after the dividend announcement, and why? Now... to sell or wait through the trading day on January 3rd? The stock is still just below its flat 50-day moving average, and I think we're in for a bearish spell in late January or early February. However... It looks very, very unlikely that the stock will fall $5.50 after the dividend is paid. Stock internals look good and there is great support at 13 and at 11.25. I'd say stick around for the distribution and see what transpires afterwards. Put a stop-loss order in just below 13, where there was significant buying pressure in September and October. Good luck! RS

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