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Strategies & Market Trends : REXI is jumping up!
REXI 9.7800.0%Sep 9 5:00 PM EST
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To: NASDBULL who wrote (47)8/25/1998 9:15:00 PM
From: Tradegod  Read Replies (1) of 83
 
To the thread. I was long 4000 shares yesterday at just below 22.

Started at 22 5/8, listened to the conference call live, and averaged down to the close. Spent a very nervous night wondering what the 'F' was going on with this company. 8 million shares coupled with the down tick rule suggested there was more than shorting going on here. Also the company's denial and lack of improvement in the stock doubly concerned me. When the stock broke at the opening I started easing out and actually got out at break even. I was tempted to short but every 2 hours, Joe Kernan was reiterating the story with a bullish tone.

11+ million shares today. Something smells fishy here. The two analists Kernan quoted from the wire reports are from REXI's underwriting firms so I would discount their objectivity. Off Wall Street, the firm that started this with their negative report, is not Manuel Arsenio. My understanding is that a subscription to their newsletter is $40,000 per year and their customers are big institutions who want info like this to protect their downside. They exited on Friday and Monday. The rest of us just look for a bargain and a quick bounce back and may get hurt. Be careful trading of CNBC. I'm glad to be out without a loss. Good luck to all
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