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Strategies & Market Trends : Resource America (REXI)

REXI 9.780

0.0%

Sep 9 5:00 PM EST

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To: NASDBULL who wrote (21)	8/26/1998 3:20:00 AM
From: Tom Murphy	Read Replies (1) of 220

NASDBULL....I don't normally short stocks, but this one was begging for it. I did not short it because of the BS story about some memo saying the company lost a lot of money in Asia (as CNBC originally reported)...I shorted it after reading the earnings report. Evidently I guessed right. The ticker does not lie....this stock is down 50% in 3 days...Maybe you think the books are OK, but enough of the street thinks REXI is cooking the books to tank the stock...You can't argue with the ticker. Just be prepared..If (and I say if) it turns out they are cooking the books....this stock will go to single digits fast enough to make your head spin. I truly hope that does not happen. I closed out my position at $17 5/8. I hold no malice towards other investors and hope you guys come out OK. Good Luck.

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