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Non-Tech : PERFUMANIA.COM . . PRFM . . .FOR LONGS ONLY
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To: Jane4IceCream who wrote (1687)2/1/1999 7:24:00 PM
From: Oleg Sogolov  Read Replies (1) of 2489
 
Well, I covered my short today. Certainly felt, that eventhough PRFM has a way to go down even more, I am not going to get greedy and cash in my gain as it is.
There are several factors that prompted me to short this stock on Friday:
1. The company that seems to be swimming in a lot of debt.
2. The stock price has risen too fast and too high (reminded me a lot of CNKT).
3. Announcement of the new web site - huge price build up followed by a drop.
4. They are not AMZN as some seem to think, however, both have in common shrinking margins.
5. My problem understanding how they are going to obtain repeating customers (>Another bottle of perfume? Oh, you should't have!<)

I expect a lot of bouncing back and forth but I'd rather move on.
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