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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (9588)	3/7/2001 10:33:39 PM
From: Bernard Ng	Read Replies (1) \| Respond to of 11130

PPRO... with the help of FOMC meeting and Abby Scam Cohen's Bullish BS comment on the general market... it might go back to $15... it looks and feels like AMZN... LOL on DEMP news... I'm reposting it here, looking for a scalp tomorrow then, thanks! Drug Emporium said unusual stock activity due to merger rumors WEDNESDAY, MARCH 07, 2001 1:51 PM - Reuters POWELL, Ohio, March 7 (Reuters) - Drug store chain Drug Emporium Inc. (NASDAQ NM:DEMP) on Wednesday attributed its stock volatility and high trading volume to "rumors regarding the potential acquisition of the company." Shares of the troubled retailer were trading down 8/32, or about 47 percent, at 9/32 on Nasdaq, down from a 52-week high of $6-3/8, barely up from a year low of 7/32. About 2.9 million Drug Emporium shares had exchanged hands by midday Wednesday, compared to its average daily trading volume of about 84,000. The company said in January it had hired Odyssey Capital Group to explore strategic alternatives, and although it has been in talks regarding a possible sale, no definitive deal has currently been made. Drug Emporium, which in November was in danger of being delisted, said it would be unlikely that any sale of the company would produce value for its shareholders.