"Avalon and one other broker in Florida were advising shorting IMCL."
Avalon is advising it since October 2001, Sterling from earlier than that !!!
"I have no doubt that many people who read the Cancer Letter shorted IMCL. It was out early and credible."
The Cancer Letter came out on January 7, 2002, the selloff was already full on its way since 12/27/01 clearly in TC2000 bop indicator.
I have no evidence to say that anyone shorted before The Ca Letter published the Shareholders information.
Even if they shorted past 12/31/01 when Imcl gave the information, and before Ca letter publication on January 7, it is not wrong, cause the company was already public on the RTF, not the bits the company did not like. But it is Imcl selective disclosure problem, not Ca Letter. Imcl wants the "bad bits" private, and the spin public? Well, The RTF is one document ones is out is public, anyone can act.
Heavy shorting did not happen until past 1/7/02, there was a lot before but coincide with the RTF bad news of 12/31/01, no one could act during the weekend past the 12/28/01.
Interestingly, late November and early December 01 the Bop indicator showed heavy selling, it match the Mercky selling of its 3% stake (20% of that went on the BMY tender offer) and the november selling by sam.
Source of the RTF alleged leak? Check inside Imcl first. |
