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Technology Stocks : ESST-the new beginning.

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To: LakesideTrader who wrote (2056)	9/28/1998 8:47:00 PM
From: Rishi Gupta	Read Replies (1) of 3493

The volume is at least five times the daily average.Since there is a black-out period for ESS Technology employees, this include Fred Chan & his wife, we can safely ruled out purchase by the Chans. (who announced they will purchase ESS stocks on the open market) The black out period will be effective the whole month of September and until 2 days after the Q3, 1998 quarterly financial report in October. Judging by the volume and chart, it looks like buyers are buying at 10,000, 20,000, and 30,000 shares.--typical of money fund managers. As to what triggered this group purchase, I don't know. There are some investment newsletters went around in the past few weeks, giving suggestions as to bottom fish some bargains. But that's for small individual investors. Today's activity looks like some analyst of companies like Morgan Stanley is issuing favorable comment about ESS Technology and all clients of theirs have received such information and made their move today. Let us watch it closely again tomorrow. Can anyone volunteer some comments? R.

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