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Non-Tech : West Marine WMAR -- Ignore unavailable to you. Want to Upgrade?

To: Dale Stempson who wrote (385)	7/8/2000 6:09:15 AM
From: Dale Stempson	Read Replies (1) \| Respond to of 400

Random Thoughts: FWIW, I took a look at WMAR short interest and noticed that after 6 consecutive months of running very flat at around 125K shares, the mid-June numbers increased about 50% to 183K. I find it interesting that someone would be shorting with the price near historic lows. The mid-May to mid-June period saw WMAR drop from the nines to the sixes. Although the short play appears to have been a very good one, I wouldn't have thought to make that bet. The Q1 report wasn't great, but it wasn't bad either. Concerns about the delay in the report were dismissed and the CC was positive. So what was out there? Well, the weather was an issue. Retail stocks were weak. Interest rates were a concern. We did get a Q2 earnings estimate revised slightly lower. It appears WMAR didn't make the Russell 3000 index cut. And of course, there was end of the quarter repositioning. While all of the above are factors, I think the selling has been overdone, and perhaps is over. I would imagine some of those shorts are covering here. The June sales report showed a nice rebound from the weakness of previous weeks. The weather is better. Interest rates hikes are less of a possibility. The end-of-quarter issues are behind us. The CEO is optimistic for July. Perhaps we'll now begin feeling some positive impact from initiatives WMAR has been working on. I liked Friday's trading and close. Thursday's dip was quickly reversed on decent volume. (It looked to me as if the MMs had a hand in Thursday's activity). We've been trading below 7-1/4 for a month now. I bet we'll finally break above that level next week. Regards - Dale