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Non-Tech : OAKLEY- NYSE:OO
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To: DD™ who wrote (69)12/16/1996 10:23:00 PM
From: David Naggar   of 1383
 
Don,

The stock was unchanged at the end of the day, but it was down to
10 1/4 before jumping straight up to 11 1/2 -- When I checked to see why the sudden move, I came across the announcement (the presumptive reason). The market clearly liked his choice of words (they already knew he would be buying more shares). Most CEO's would be afraid to make such bold pronouncements because they fear the consequences of securities litigation.

I'm thrilled he feels so good about Oakley. As for it being the bottom -- for my two cents, you shouldn't worry about it, or try to pick it. If earnings come in at .94 cents in 1997, notwithstanding the 96' 4th q. blip caused by Sunglass Hut and the delay in X-metal production, then Oakley shares should trade at a much higher level than they do now. Of course, if the market thinks Oakley is a fad, or expensive sunglasses are a fad, then lower P/E's will carry the day no matter what the earnings.

David Naggar
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