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Technology Stocks : OnSale Inc.
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To: Eric Cross who wrote (800)2/19/1998 6:32:00 PM
From: Richard Chow  Read Replies (2) of 4903
 
All,

Apparently there was a rumor that the CEO resigned and ONSL will have to restate their financials. This caused the freefall today.

The rumor was dispelled 15 minutes on Dow Jones News Wire before close which accounted for the miraculous recovery back to almost where the day started. A lot of it was in short covering. (Short interest increased 30% since the beginning of the year...)

To my fellow "shorts": Maybe where there's smoke...? This turkey is so damn over-valued and all technical signals are so bearish it's gotta go down! Right?

Dick
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