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Biotech / Medical : Matritech (NASDAQ - NMPS)
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To: P. Ramamoorthy who wrote (117)7/16/1996 2:08:00 PM
From: Patrick Tang   of 849
 
Hi Ram: For a flat base breakout on the downside, heavy volume is NOT a prerequisite for the following reasons:

1. For a thinly trade stock, some institution players are systematically unloading. They cannot unload it all in one shot because this will depress the price in a hurry. Hence a decline in light volume occurs.

2. Corporate insiders are unloading quietly. With the lack of news or developements, therefore no buyers step in and the specialists have to play their inventory games.

3. Deteriorating business prospect for this company. It falls apart slowly and methodically.

When you notice this type of breakout, run to the hills!

Best wishes.
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