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Biotech / Medical : Immunex

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To: Michael Yang who wrote ()12/13/1999 5:33:00 PM
From: Maven1  Read Replies (2) of 656
 
To all---IMNX closed above 10-day moving average for first time this month---bullish according to Bernie Schaeffer, the contrarian options advisor (Option Source.com). There are 2X the number of Dec 75 puts as calls, a contrarian bullish indicator, because a move toward 75 this week may kick off a delta-hedging rally, as those who are short these options, and not hedged, are forced to hedge themselves by buying the shares. And that's on top of the
underlying developments in IMNX pipeline behind today's surge.
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