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Biotech / Medical : IPIC
IPIC 0.00010000.0%Dec 18 4:00 PM EST
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To: rebecca who wrote (619)9/3/1997 4:44:00 PM
From: P.Prazeres   of 1359
 
Rebecca,

I think that looking at the open interest on the options, the short term trend is to 17.50 in the next few weeks...after that we begin entering into a very funny period...Usually during late Oct through December, the laggards of the year get "punished" a bit more in order to for people to take some tax losses...IPIC has been a laggard this year and I suspect that we may have some selling pressure toward the end of the year to shrug off....BUT citocoline annoncements are also due towards the end of the year...so it looks to me that 15 or so won't be a surprise and 22 may be a stretch...ultimate support is around 13 by the way.

One other thing...there is a bunch of shorts on this stock which will really put pressure on the stock...the only way they cover is when and if citocoline begins to produce earnings or Redux is cleared fo good with the bad press eliminated or both....Unfortunately, the former may come first.

Paulo
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