Biotech vs. Shorts Message Board

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Biotech / Medical : Biotech vs. Shorts

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To: Biomaven who wrote (173)	8/24/1999 10:37:00 PM
From: Gordon James	Read Replies (1) of 427

Seems the Avalonians were busy reiterating on CLTR again yesterday. Doesn't seem to have been an entirely influential call, with CLTR up 1 3/4 yesterday... Coulter Pharmaceutical Reiterated `Sell' at Avalon Princeton, New Jersey, Aug. 23 (Bloomberg Data) -- Coulter Pharmaceutical Inc. (CLTR US) was reiterated ``sell' by the Research Committee at Avalon Research Group. quote.bloomberg.com Can be a dangerous situation for the shorts when a stock is hard to borrow like CLTR at present - more liquid issues are usually much safer waters for them... Speaking of shorting illiquid issues, reminds me of a "personal experience" story about being deliberately squeezed that Cramer wrote on TSCM awhile back. A brief retelling: Cramer has a pretty big short on some marginally liquid issue, and is taking a beating day after day. Finally, about to cave in, he talks to some traders he knows to try and get some skinny on what's up. The answer he gets from one trader chills his blood - "Oh, some of us have found out that some little hedge fund guy is very short this issue... we're going to make him cover or put him out of business". Cramer covers very soon thereafter for a big loss, knowing what it's like to be hunted prey. Avalon and it's friends aren't in exactly the same position here, but it sure looks like they've got to have this BLA end up in the ditch, and I haven't been very impressed so far with their reported reasons for being so sure that it will... GJ

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