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Re: [sharechat] AIR, BGR.

From:	"stockwatch" <stockwatch@baron.co.nz>
Date:	Fri, 21 Mar 2003 19:10:39 -0800

BGR has been caught within a vortex of negative market sentiment regarding retail stocks stemming from a bevvy of poor results from the retail sector, a bearish market that has geared it's expectation level well above realistic and punishes companies for coming up short of an A++ result and to a some extent a market that is still 'shell-shocked' from October '87. Markets long term are usually relatively rational, but because people are making the buying and selling decisions, group dynamics such as "mass gloom" or "mass euphoria" etc... can forment a certain amount of irrationality within the market over the short and medium term.

At $1.88 a share, the stock seems to have been oversold today, given BGR's performance relative to other retail stocks and committment to growth and profitability.

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