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Non-Tech : FASTENAL: FAST

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To: Adelantado who wrote ()	9/30/1998 1:35:00 PM
From: Bwe	Read Replies (1) of 20

Hi Joe....I'm a former shareholder of Fastenal and am saddened to see the stock as battered and bruised and on the new low list on a daily basis. FASt is a stock that had always traded at a super premium to the market, much to the dismay of short sellers everywhere, however, at a current p/e of 19, the stock is as cheap as I can ever recall. I chart stocks using point & figure charting and FAST's p&f chart is not healthy. I would avoid making any commitment to the stock at this time no matter how cheap it seems to be. The stock broke down in February of '97 when it gave a sell on it's relative strength chart. In October of that year, the stock broke it's major support line at $47 and it's been tough going ever since. FAST has given 6 straight sell signals on it's p&f chart and recent action has taken the stock below it's price from 1994. According to FAST's p&f chart, a bottom is not yet at hand. JMHO. Bruce

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