Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: BDR who wrote (17570)	2/26/1999 9:32:00 AM
From: Bob Trocchi	Read Replies (2) of 18691

Dale... >>Given what you know about RACE, do you have a target price in mind for closing out your short? << I am not sure I am an expert on RACE but I believe long term it will surprise me if it does not go to 1-2/share. With that said, I expect it will be a bumpy road down and I will take profits somewhere below 5 and look for another bounce. I missed a recent below 5 figure and kicked myself. I have always been too greedy and that has sometimes cost me in the past so taking profits is not a bad idea. In your case, talking profits of 24% isn't a bad idea but who knows, it may not ever go up enough again to short. The technology from what I believe seems to be good but grave yards are filled with good technology products. Having a good product in and of itself does not mean anything. Is there demand?, Can the company execute? Financially RACE is in DEEP trouble. Cash on hand is only $2.3M. They lost $8.6M over the past year, the P/B is 25, The P/S is 15. All very ugly numbers. Market Cap is $85M. If someone were to buy them out for the technology, that seems to me to be a lot to pay for a technology that has not captured the imagination of buyers. Thus with the need to raise cash, a buyout unlikely IMO leaving the potential for a floorless convertible. Sorry for the long winded answer but those are my thoughts. Good Luck Bob T.

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