Just For Feet (FEET) Message Board

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Non-Tech : Just For Feet (FEET)

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To: Walter High who wrote (68)	3/3/1997 11:42:00 PM
From: Rick Slemmer	of 750

Walter: I just became aware of FEET through a tech analysis flagging program, and I'm thinking of playing options. Trouble is, I'm looking at puts because, quite frankly, the chart looks horrible. All those downward-trending highs are not a good sign for those long on the stock. I decided to see if FEET had a following on SI and what the "long guys" think. A few salient points spring to mind: 1. Despite higher sales and earnings, the stock continues to tank. 2. In a raging bull market the stock has drifted (under what seems to be controlled dumping) down to the 20 range. 3. There is heavy distribution in evidence that has been going on for about a month now, and the hemorrhaging continues. Clearly something is amiss with the stock. Regardless of the company's performance, someone knows that the stock is destined to sink lower. It closed today just above the lower band; if it breaks through on the down side there's little support for 5 points. Incidentally, the same program that now flags FEET as a short sale called CCRO the same way last month, and I see too many similarities to ignore. I'll decide tomorrow whether or not to short the stock. Even though we're on opposite sides of the fence, I wish you the best of luck. RS

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