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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: CMason who wrote (1242)	6/23/1998 4:47:00 PM
From: LPasko	Read Replies (1) \| Respond to of 2506

I can't find a bid/ask on EQMDE. Do you know what it was at the close? Thanks.

To: CMason who wrote (1242)	6/23/1998 4:55:00 PM
From: drakes353	Read Replies (1) \| Respond to of 2506

C: EQMDE closed at 2 3/4. I still haven't covered, and wondered whether you have any thoughts on how much more downside might be left. Without a look at the current financials it's really tough to say. Colkitt owns most of the shares, and I doubt he'll be selling; I also assume there never was much institutional ownership. According to CDA/Spectrum around 4% was held by institutions. Don't know how many of those folks are left tho. However, I suspect we may see some shareholder class-action lawsuits, and there may be some more liquidation by disgusted longs tomorrow when they see today's plunge in the newspapers (or call their brokers to find out why it wasn't in today's papers). I'm under the impression that today's trading was on Instinet so most individuals probably did not have a chance to bail. Could be tomorrow if EQMDE goes BB. Do you know of any other stocks whose history might predict where we go from here? Hard to say. A couple of recent delistings were SWSH (currently around $2.375) and PAMC (actually closed higher today at $4.875) so we may poke around or even trade higher on short covering. The real wild card is the financials. If things are materially worse then this pup might just might go to zero. drakes353

To: CMason who wrote (1242)	6/23/1998 11:04:00 PM
From: Carl Yee	Read Replies (1) \| Respond to of 2506

EQMDE: Drakes, Cmasom, et al, Here is an interesting quandry for me. Had to be away from the desk all day, so put in a GTC Limit buy to cover on my short at 4. See it dropped thru that and down to 2 3/4. Now any guesses, why my short never triggered? Dropped thru the limit, too fast? Changed symbols, so Discovery missed it? Any opinions welcomed. May cover, may see if it goes to ZERO. In any event, KA-CHING again, as the sheckels hit the bottom of the piggy bank!