Resource America (REXI) Message Board

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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: Bill Wexler who wrote (62)	8/30/1998 10:58:00 AM
From: Tim J. Flick	of 220

Bill... They most likely bought stock on Friday. As you know they use Friedman Billings. This guy must have bought 200,000 or more shares on Friday in the low $13 range. Later in the day,after the announcement, they made several large prints, my guess is that was too REXI, and then faded from the bid the rest of the day. You and I both know that Freidman would not have been such an aggressive bidder of ANY stock in this kind of environment without a buyer on the other side. They made the announcement of a buy back of all securities to cover their ass. I will be curious to see if they are back in on Monday. The ax is this stock is Freidman... when he goes to the bid, the market will stop going down... take that to the bank.

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