Centocor ( CNTO ) Message Board

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Biotech / Medical : Centocor ( CNTO )

CNTO 0.00001000

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Nov 21 9:30 AM EST

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To: FNS who wrote (126)	6/12/1997 5:53:00 PM
From: Thean	of 965

I think the story released is only partially to do with CNTO price action today. It basically is an old story. It lost some steam again in the second half of the day. I say this stock is being played (don't want to use the word manipulated) a lot of MM's and traders. From the way it was moved down to flush out weak hands and brought back up to close above technical support, I'd say these are signs of MM's play. The biotech is finally seeing some energy today. BGEN rebounded nicely, CHIR and GENZ also moved up. I'm somewhat surprised AMGN does not move up. What we have is a strong drug stock bull run right now. The big drug giants participated, the mid size generics also participated, drug delivery somewhat and now finally biotech, which has been beaten down quite a bit. If the overall drug industry bull run continues, I'm willing to bet further that money will find its way into the biotech's. If the bullrun stops next week, then we are back to the trading range again.

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