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Non-Tech : Foodmaker (Jack-in-the-Box Restaurants)
FM 27.190.0%Jan 8 4:00 PM EST
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To: Bonzo who wrote (34)3/4/1997 12:11:00 AM
From: Arnie Doolittle   of 338
 
Hi, Joe. Don't hold your breath waiting for me to join AOL. :-) I've tried it twice and don't like it. BBA is now in play. Look for a nice move from this point. I increased my position by 1/3 at 4 1/2 and my basket is now full. Earnings will be below expectations at a loss of 3-5 cents but the excess investory problem is history. In fact, inventory levels are below plan as I understand it.
Yes, we are both bottom fishers but a slightly different breed. I tend to load up when stocks are on major bottoms and then ride them to my target price. In FM's case, I held my position for almost 2 years. Since I unloaded 1/2 my FM position at the 12 level, I won't re-enter at a lower level unless the bottom really falls out. Why? Too many bigger fish to fry with greater potential. While I think FM will see 20 within 2 years, I currently like NXTL as a long term situation with strong possibilities for a 10 bagger. Thus, I've rolled considerable $$ into NXTL. It's still in a trading range but I'm a patient man when big opportunities exist. NXTL fits that bill imho.

FM's earnings problem this quarter has nothing to do with MCD. As you'll recall, last year's 2nd quarter had an income tax adjustment because the 1st qtr. '96 income tax rate was too high. This year FM must not only have higher pretax earnings but significantly so due to the income tax adjustment last year. That may provide another buying opportunity if you're so inclined.

Arnie
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