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Non-Tech : Landry's Seafood (LDRY)
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To: David Meharg who wrote (61)9/18/1998 10:32:00 PM
From: Thomas George Warner   of 81
 
David on 9/15 you reported that landrys was in a free fall with heavy selling which was not true as I indicated to you in my post since the days volume was far below normal

To: +Thomas George Warner (52 )
From: +David Meharg Tuesday, Sep 15 1998 10:16PM ET
Reply # of 62

Price down to 8.00 dollars. HEAVY selling during free fall.
Who has sold all these shares, insiders or instit. holders? Anyone
have a feeling about this one? Is a sale far off?

Now you report that Value line is over rated etc. It would seem that you do not understand how value line evaluates the market and individual stocks. I would suggest that you read Arnold Bernhards original book "The evaluation of common Stocks". It explains in detail how the different ratings are arrived at and I can assure you that it is not via the method that you describe.

While I never agree completely with Value lines ratings, it has proven very valuable in my investing. I subscribe to both the regular and electronic versions and use them every day.

I am a strong buyer of Landrys and have really taken a beating in the stock but am still holding. Why? Because the severe downturn in the stock is not entirely the fault of management. In case you haven't noticed many mid-cap stocks and funds have taken a beating.

Your comment "By heavy selling I mean look at todays action 1.8 million shares-down over 10 percent. Who is still selling at these levels and why are they so unwilling to hold these shares." Have you attempted to find the answer? Remember today was triple witching Friday. Options expired etc. Wonder if this had anything to do with it? Many traders had no choice but to dump the shares....they were more than likely bought on margin!!!!!!!!

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