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Strategies & Market Trends : Resource America (REXI)
REXI 9.7800.0%Sep 9 5:00 PM EST
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To: Bill Wexler who wrote (62)8/30/1998 11:04:00 AM
From: Candle stick  Read Replies (2) of 220
 
>>>Incorrect. The announcement of the "buyback" probably had short-sellers
high-fiving each other. This is a classic maneuver by a desperate company to put up
a facade of strength. Note that good companies announce buybacks after
spectacular quarters...probably after their stock has already run up (IBM, DELL,
etc.) When companies issue press releases after a stock decline either criticizing
short-sellers or announcing ambiguous "buybacks", that's a clear signal to cut and
run because the stock is going lower. <<<

Now you are being ridiculous. Companies often buy back stock when it becomes cheap....remeber, buy low, sell high? Even if they buy back some bonds, that is GREAT! They will still reduce the expenses of the company and improve future earnings...."shorts were high-fiving"?????? Get real. No short was happy to find out that a war chest was just funded to buy stock at any given moment while they are trying to shove it lower....like I said before, at 13 1/2 dollars the company could buy almost 30% of the float back. That should squeeze the hell out of the shorts....and if the stock drifts another point or 2 lower? Then even MORE stock can be retired.....the company and 2 analysts have denied that there is any wrong doing at REXI....Robertson Stephenson and co. and Jahnney Montgomery (sp.?).....I can see no reason at all for being short REXI at 13 dollars.....appears to be pure suicide.......good luck, you will need it to cover ....;^)

P.S. Did you see that some good news is coming out of Russia this morning? The Sunday talk shows are saying it is GREAT news and should be very well received by the U.S. markets on Monday.
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