IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: guido leone who wrote (744)	4/23/1997 1:00:00 AM
From: jay a	of 1762

it's interesting that we both have reliable sources and opposite reports. i know that in fast markets with lots of volume, the floor trader's info. is not very reliable as things change so quickly. however, in this case that is not so. i double-checked my source to be sure and i am sure you did, also. i am sure you noticed the open interest increased the next day. as you know, the oi is the NET of all OPEN positions. also, as i'm sure you know, the options biz is truly a zero-sum game. in other words, in spite of someone "selling", the open-interest increase could be interpreted as bullish IMO. wed.'s oi #'s should help shine some light. but then again, if the over-hang from mer. lynch is gone, i think we go higher. by the way, a buyer showed size today and mer. lynch went to the bid AND STAYED THERE. that's good news if you are long idph. a couple more days of decent volume would help. look forward to your response.

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