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Non-Tech : PERFUMANIA.COM . . PRFM . . .FOR LONGS ONLY

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To: unclewest who wrote (2030)	2/3/1999 7:56:00 PM
From: Jay Fisk	Read Replies (1) of 2489

After that CNBC interview the market took a vote and the results were obvious, except to the blind ! What do you suppose the institutional position is - below zero ? It's not a question of IF, just WHEN this over-valued P&D hits fair value, somewhere around $1.25. Short covering unlikely. Gap up? = more short positions. Think about it. Spend a few hours with the 10K filings, get a headache trying to figure out the maze of interlocking smoke & mirrors affiliated vs non-affiliated accounting entries. At the current price, any long positions look temporary to me.

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