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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: JOHN W. who wrote (2843)11/16/1997 2:00:00 PM
From: JOHN W.   of 6136
 
Subject: CNBC-short flushing
Date: Sun, Nov 16, 1997 10:40 EST
From: Taurus8266
Message-id: <19971116154001.KAA28703@ladder02.news.aol.com>

...very similar to toilet flushing. A few weeks ago at ~ 8:30 am a guest on CNBC commented on a tactic being employed recently whereby `money managers' identify stocks which are heavily shorted but have strong fundamentals and just when a spark appears they drive up the price of the stock in concert. The shorts panic as they watch their money instantly evaporate, and the money managers cash in as the short selling only exacerbates their problem. The
best sparks have long-term positive consequences. Did anyone else catch this snippet? Is this legal?? The person even gave an example or two. With regard to AGPH, on the options side it appears that there are currently many thousands of NOV calls out of the money and there is a big disparity between the strike prices for most of the calls and puts. Someone is going to lose a lot of money. Anyone want to guess where the equilibrium should be?

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