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Strategies & Market Trends : STEAMROLLER'S DAYTRADES -- Ignore unavailable to you. Want to Upgrade?

To: STEAMROLLER who wrote (588)	8/26/1998 6:34:00 PM
From: Mike Farrar	Respond to of 1561

BIG MOVER FOR TOMORROW - MICHAEL'S STORES ( MIKE ) MIKE just beat earnings estimates of .00 with earnings of .02 , 200% over est. Shorts took MIKE DOWN 3 5/16 today on short selling. Current short interest is 2, 537, 770 shorts with a day to cover ratio of 10.35 days. This was MIKE's best 2nd quarter ever, and with a profit. I expect a couple of upgrades tomorrow due to the companies turnaround and a huge short squeeze to drive MIKE up to the mid to upper 30's in a few days. This will be a good long for the rest of the week, and on Sept. 03. , MIKE will announce store sales for August. Looks like a good long at least until then and will be a BIG upwards mover the next few days. Good luck.