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Non-Tech : Extended Stay America (ESA)
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To: Lynne Good who wrote (72)8/23/1997 4:00:00 PM
From: Stephen M. DeMoss   of 133
 
Dear Lynne, The market can be very confusing at times<G>. Someone knew something the night before the release when 222,000 shares were bought at the ask with 4 minutes to go. Some one also sold quickly into the rally in the am. I called the company again and they said they are ahead of schedule on this years plans and believe their future could not be brighter. I'm glad Bear Stearns raised their rating. The only negative was a 12 month target of 17. To me as an investor, I am not excited about buying a company at 14 that will go up 3 points in 12 months. I think that was a negative for the upgrade. Have a great day and lets remain patient! Steve D.
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