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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (17638)	3/11/1999 8:29:00 PM
From: Brian Gross	Respond to of 18691

Dale, Thanks for the response. I covered part of my position this afternoon when it looked like it might take off again. There has to be a pull back some where along the way!! I HOPE....

To: Dale Baker who wrote (17638)	3/11/1999 9:24:00 PM
From: Nazbuster	Respond to of 18691

PRBZ - I took a quick glance at their last filing... What a piece of work. With pretty impressive growth in client base and number of employees for which they do payroll processing, they still managed to have operating losses almost 20% of their revenues. They admit to LONG leadtimes and large expenses to develop clients and say that the profitability depends on retaining those clients and offering new services. I can't imagine having pockets deep enough to sustain 20% operating losses for long. Odds certainly look better for failure than success. Fits the pattern of, "We lose money on every transaction but make it up on the volume."