Biotech vs. Shorts Message Board

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Biotech / Medical : Biotech vs. Shorts

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To: scaram(o)uche who wrote (57)	7/28/1999 9:49:00 AM
From: Biomaven	Read Replies (2) of 427

Rick, Nice gap-up by (one of your favorites) GLIA today after decent earnings and a modest stock buyback program announcement. This is a stock that has been steadily declining recently (after a nice run earlier) without any news and amidst some low-key short-type rumors. There is no big short position disclosed, no big option position, no big sales by any of the substantial holders. That leads me to assume that this may be a "hidden short" where a market maker is short in response to a side-deal with a fund. MM shorts are not disclosed, and if it is a hedge fund, their position is not disclosed either. This means we will likely never know for sure if this was a short-toy. The gap-up looks to me like short covering. I am modestly long, having added to my very small position last week around $18. Peter

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