BCRX: Target practice for shorts Message Board

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Strategies & Market Trends : BCRX: Target practice for shorts

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To: hedge fund who wrote ()	8/25/1999 12:14:00 AM
From: byhiselo	Read Replies (1) of 96

I smell a P&D rat with this analyst: "It's very significant news," said Meirav Chovav, an analyst at Salomon Smith Barney. Chovav raised her 12-month price target for the stock to $35 a share from $25 and forecast narrower losses for the company in the 1999 and 2000 fiscal years. Chovav said she expects the BioCryst to turn profitable sooner than previously estimated. She put the $25 dollar target just 2 weeks ago! Profitable? Very doubtful. SSB is selling the stock up here by the truckload. Although I was originally planning to cover on any pullback over the next 2-3 days, thinking of holding off on my cover and shorting more tomorrow. Problem is there will be covering all the way down to the mid-20's so no quick money. In future, I think I'm going to start setting a time limit on my shorts of 3-4 days and if they don't move as expected, cover regardless. In hindsight, the support around 22 13/16 on falling volume was kind of stange. SSB and others holding the stock up on low volume knowing about upcoming PR? I'm not much on conspiracy theories but when $$ is involved, not hard to get by the SEC, who knows. Will be watching for the dump... Cheers

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