Restaurant Teams International, Inc.-RTIN Message Board

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Microcap & Penny Stocks : Restaurant Teams International, Inc.-RTIN

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To: Don P. who wrote (1385)	5/20/1999 10:04:00 PM
From: Lee Walsh	Read Replies (1) of 3351

It sure looked today like they were on the run. I think they would be crazy to do any more shorting now....Fat Burger closing on Wednesday....and I would expect a huge announcement or multiple announcements to follow soon after that about Franchises. Also, I am expecting another "Big Name" to join Lee Coen on the board of directors very soon. This is just some guessing...but i've watched this stock on level II for quite a while, and here's what I've seen the last couple of weeks, and especially today.... NITE had been shorting pretty heavy the last week or 2...even down at the $1.50 level. Today NITE was a buyer..he was the MM pushing up the bid most of the day. He started doing some covering this morning when he popped the bid to 1.93. What is very curious is that he was doing the buying from USCT...who sold the first 70,000 or so shares at 1.96....before he lifted. I don't believe USCT has accumulated this many shares to sell...and I can't believe he had a seller with that many shares...so it looked to me that NITE was covering his shorts from USCT early, who was shorting to NITE. This makes since since when the day was ending it was USCT on the high bid...so now he needs to cover. This is a great scenario for us longs, because if we can get one shorter buying from another MM, who is also shorting at a higher price....with some buying momentum we can really do some squeezing. I was very encouraged by the fact the bid was raised to 2.25 with 20 minutes to go in the day and there were no sells...either by longs or shorters.

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