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Non-Tech : LABOR READY (LWR) THE NEXT MANPOWER.
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To: j lawrence who wrote (226)8/21/1998 12:49:00 PM
From: Spunky Beaver  Read Replies (2) of 455
 
I shorted a small position of LBOR yesterday at 23.5, and I am very comfortable right now. There is no way a company of this caliber should be trading at a P/E ratio of over 40. Share price has defied gravity. It has doubled in the past six months, quadrupled in the past year. There is very little room to grow demand for temp labor as they are already in almost all states and provinces. What are they going to do now to expand the business in such a way as to justify the P/E ratio they are trading at? Go into executive placement?
The problem with momentum stocks is that sooner or later, they run out of momentum.
Guess what's happening now?
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