Coinmachine Laundry -- WDRY Message Board

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Non-Tech : Coinmachine Laundry -- WDRY

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To: Don Westermeyer who wrote (19)	2/13/1998 10:43:00 PM
From: Rick Slemmer	of 116

Don: What warrants the 6 strong buys?! Beats me. I've had a load of fun SOES-trading WDRY this week; once it broke support at 24 it was a free-fall to 20. I expected it to stay there or perhaps to drop even further, and I was surprised when buyers started showing up at 21. The spread was 5/8 sometimes. I don't know who the 6 analysts are, but I can tell you the cast of characters I saw on the Level II bid side most of the day. JEFF, RAJA, and WEAT seem to be the principle buyers, although JEFF went to the ask side in today's afternoon session. I saw some heavy INCA presence on the ask side a couple of times, which tells me that institutions are more interested in dumping WDRY at these levels than buying it. WDRY fell to 19 13/16 but bounced very quickly back to 21 in early trading. Therefore I would consider 21 to be support; if the stock trades below 19 3/4, there is tenuous support at 18 but not much underneath that. Assuming Mr Asensio and company are correct about the financials, I expect the stock to drift slowly down amid denials from WDRY until the stock finally collapses. Good luck! RS

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