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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (10059)	2/25/1999 10:15:00 PM
From: steve brooks	Respond to of 56532

Poet and all the shorts: Take a look at TNFI. Downgraded by Morgan Stanley today. Take a look at the chart on this one it has had a pretty consistent trading pattern but IMO the direction may be south for a while. The company did release pretty strong earnings from 4Q-98. However, I have some friends in the outdoor retail industry that have indicated some smaller retailers received early shipments of larger quantities than were ordered. Some of these shipments were supposedly returned. I can not substantiate this but have heard rumors that a larger department store also returned merchandise they were unable to sell. One well known retailer in my area quit carrying all NorthFace gear altogether. Who knows if others will follow suit. On a positive note the company seems to have switched its marketing emphasis to larger discount and department stores away from smaller specialty retailers. The company may be successful in selling a larger quantity of cheaper, lower quality goods through these outlets. Only time will tell. As always do your DD. Most of what I have heard is rumor or maybe just grumbling in the industry by people that don't like what is happening. Back to the next tax return, UGH!!! Good Luck Steve