Friends of Essex

[dontbothermec]

I agree Ted, something icky may be going on. I have never seen so much insider selling, 70M shares, 1/4 of the float, 10 days volume! Plus, it was just reported Justin Chang will not run for re-election on the board. He has shares, I guess he'll sell those soon too.

That headline 12/06 about ONNN buying back 70M shares looked good in Dec., but looks bad now...they only bought for employees options, which were sold immediately.

I wouldn't get too excited about the upgrade, as I peruse the analysts, I see Wedbush Morgan initiated coverage in Sept. I have had very poor luck taking a long position in anything they initiate coverage on (VDSI & AEOS). Watch out on low volume trading days, like holidays. They like to do bear raids over long weekends too, then they'll downgrade it, reload and do it again. It is pretty safe after they drag it down, say to $6 and then upgrade. If I were going to play this one, it'd be on the short side.