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To: robert duke who wrote (1678)6/5/1998 11:59:00 AM
From: PistolPete  Read Replies (2) | Respond to of 4230
 
Robert:

There are a couple of theories right now, but the most likely on is that the MMs are trying to jockey themselves into a somewhat better position, possibly accumulating inventory for a foreseen run-up later.

Earnings estimate for 98 is .31. Pretty much everyone agrees that this is very conservative and I, for one, think we might be close to that by the end of the second quarter, although that is obviously from the gut. EPS for 1Q was .10 and this is historically their slowest quarter; if that's their worst quarter, it's pretty easy to see that the next three quarters should get us well over the estimated 98 eps.

You bought at a good price, Robert. Hang in there and be patient, I think you'll be pleased with the results.

Regards,