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Non-Tech : Essex Bancorp - ESX - .10 book value - Turnaround?
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To: Lee who wrote (16)10/21/1997 10:27:00 AM
From: skibob  Read Replies (1) of 22
 
lee, i recently started using a free software that shows the volume of the bid and the ask. ESX has yet to show anything other than 0 bid volume and 0 ask volume. this makes me think that the mm's are in a position to pick and choose as to when to buy or sell. there were approximately 33 trades on 10/20/97. ESX is trading very thinly and may be part of the problem of executing your order. i suspect the mm's are not wanting to trade short orders now because that would tend to push the price down. ESX has just begun going back up from a very recent low of about 5 3/8.

my advice to you for now would be to hold. look to sell short at around the 6 7/8 to 7 range. buy at the 5 1/4 to 5 3/8 range.

i'm no expert but have been hammered with my short position when it was predicted to fall from 8 to 2. i've been down as much as $21k at one time. i am still down $8468 at the time of this post.

bob

p.s. the free software can be found at www.papyrus.com
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