REXI to gain by 30 - 40 % in 2-3 days. Message Board

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Strategies & Market Trends : REXI to gain by 30 - 40 % in 2-3 days.

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To: Alec Epting who wrote (3)	8/28/1998 7:10:00 PM
From: Candle stick	of 7

Resource America Authorizes 50 million dollar Buyback Friday August 28, 1:39 pm Eastern Time Company Press Release Resource America Authorizes Buyback PHILADELPHIA--(BUSINESS WIRE)--Aug. 28, 1998--Resource America Inc. (NASDAQ:REXI - news; the ''company'') announced today that its board of directors has authorized a repurchase by the company of up to $50 million of its corporate securities. Repurchases may be made from time to time through open market purchases or privately negotiated transactions at the discretion of the company and in accordance with the rules of the Securities and Exchange Commission, as applicable. The amount and timing of any repurchases will depend on market conditions. The company currently has outstanding approximately 20.2 million shares of common stock and $115 million of its unsecured 12 percent Senior Notes due 2004. .............at these prices a 50 million buyback could remove 20% of the float, and that on a stock that is down from 36 to 13, on a report by a short selling firm, that was refuted by Robertson Stephens and co., who said that there was nothing irregular about the accounting, and expects REXI to meet or exceed estimates...management has also, "vehemently" denied that there is anything irregular. At this point it seems to be suicidal to remain short, and I expect some serious buying come Monday morning....nice weekend to you all.....;^) biz.yahoo.com

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