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Biotech / Medical : Isolyser (OREX)- Any comments
OREX 0.223-34.4%Apr 3 5:00 PM EST
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To: Sandy who wrote (384)4/23/1997 8:52:00 AM
From: Fenton White   of 617
 
Sandy, We are concerned by the huge short position in this stock. We still hear that they have production problems (not sales problems). We sold out large blocks when the stock slid to $7.00 however we have been buying back in small blocks and await the expected q1 shock for buying opportunity. We continue to access the company. Targets have changed and we have moved this to our upper 15% risk threshold. In our minds that places the stock just above a roll at the crap tables. Such is life in the stock market. FYI when we see a stock start to slide like this one did we either sell out after a 15% move or write covered calls. In this instance we sold 75% of holdings and wrote covered calls on the balance. Unfortunately with the information we were recieving we did not hedge down, sell short, or write puts.

I really would like to find out who was selling the stock short.
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