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Biotech / Medical : Neotherapuetics possibly has a breakthrough drug - NEOT
NEOT 1.919+4.3%Jan 17 4:00 PM EST
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To: Marty who wrote (92)4/20/2000 1:09:00 PM
From: tuck  Read Replies (1) of 204
 
Marty,

You're right, the scenario we're talking of here isn't legal, but that doesn't mean it isn't done. Usually the converters sell short through offshore (i.e. Cayman Islands, etc.) accounts, so the connection can't be made unless the converters' confidential financial documents can be obtained. That would take a subpoena, which takes probable cause, which is hard to get.

In any case, communication between the onshore longs and offshore shorts allows for market maker like manipulation, with each making money. The very fact that the same guys are involved again means that they have a big enough position to do just this. Their time horizon can be long (several years), and I suspect it is here. If you can figure out their timing, you can ride it well. But I would expect downside for a while if this scenario is in fact playing out.

Cheers, Tuck
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