Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.749

0.0%

Nov 5 3:46 PM EST

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To: Dale Baker who wrote (503)	3/30/1999 6:46:00 PM
From: Bill Wexler	Read Replies (1) of 10293

The company has about 6 mil. shares in the float with one third of that short. Check out the chart of the company over the past year and you'll note that the zigs and zags tend to be sharp (though within a reasonable range). This is common of stocks with small floats. If the float were larger, I imagine that the stock would have taken that 5 point hit. Bottom line: over the long term the stock is going to hit the floor. Even if the company limps along for years there will probably be multiple opportunities to cover well below 10 a share. The company is grossly overvalued now. It's a great short.

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