Electronic Retailing Systems International (ERSI Nasdaq) Message Board

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Technology Stocks : Electronic Retailing Systems International (ERSI Nasdaq)

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To: Stephen Pilgrim who wrote (8)	8/9/1996 7:58:00 PM
From: A.J. Mullen	of 92

The price in the US also dropped back, to $3, on 27K. There is a problem with arbitrage in that markets are sequential. I don't think they are ever both open simultaneously. There is a danger of being left out in the cold given the way this stock has been moving. Having said that, I tried to do exactly that today, having specified that I wished to sell in the us before buying in uk and with just 1/3 of my holding. I also put a limit on my sale, which was never made. In retrospect that is a pity because I'd have been able to buy it back cheaper in either market. The profit would, of course, have been due more to the temporal decline than arbitrage. I would have been lucky. In fact I am lucky; I've learn something for free that might have cost me dear! Aj

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