Vivus, Why the Slide? Message Board

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Biotech / Medical : Vivus, Why the Slide?

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To: Mitchell D. Wilcox who wrote (2353)	7/1/1997 4:35:00 PM
From: Rubble	of 3991

VVUS fell from 22 1/2 to 19 1/4 on volume of just 40,000. It looks like a bunch of stop orders to sell were triggered when VVUS breached key support at 23 1/4 (46 1/2 pre-split...this was the major support level for VVUS I mentioned earlier when it breached 50 back in January). The MM's took advantage of it and just pulled the rug out from under VVUS, letting it drop to under 20. I'm surprised there were few limit orders, especially by shorts, to buy at 20-23. This would have provided a lot of support against such a drop. I'm sure there are many people who will now put in limit orders to buy/cover after seeing what happened today, and there probably won't be another opportunity to buy on such a plunge for quite some time. There may also be some buying tomorrow by the stop-sellers who want to get back in. TA- Let me guess...you sold all your shares today at 24 and bought them back at 19 1/2 ...just kidding.

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