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Biotech / Medical : Enzo Biochemical Inc. A biotechnology Co. with earnings.
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To: JEB who wrote (157)8/10/2000 4:43:21 PM
From: Gator II  Read Replies (1) of 184
 
Thanks for responding JEB. I basically did the same thing and came to the same conclusion about nothing fundamentally being wrong. I've been doing it on a regular basis since the April crash of all the biotechs. Today, for the first time in a while, I added a few shares of Enzo near the close. I believe it was being whipsawed with the biotech sector over the past four months and recently, it started looking like it was going its own way. Sometimes with the indexes and sometimes against. Just todau and yesterday, to me, it started looking like it was seriously searching for a base to rally from. It also doesn't look like much stock is available based on the volatility on relatively low volume. Even less stock seems to be available than just a week or so ago. Is this how you are reading it or do you have a different take? Maybe the sellers have finally been flushed out and the institutions will finally have to step up their buying if they want to own this stock before positive news comes out. There really isn't that much institutional ownership on Enzo compared to other biotechs but Enzo's is growing. Several times I've seen spreads of over two points between the bid and ask just over the last couple of days. Several times, I've seen multiple point moves on very little turnover. I've also seen it move a whole point on a thousand shares or less. To me, it looks like something's up and we are basing. Volume dried up and now its expanding again but we've maybe stopped going down. Do you agree and, if so, do you have any idea what news might be coming?

Gator II
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