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Technology Stocks : Identix (IDNX)
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To: Rob C. who wrote (3188)9/19/1997 12:04:00 PM
From: Wendell Holmes   of 26039
 
Rob, I think manipulation may be a little harsh. It seems from the options volume and quote that people with the 10's are selling them and the specialist is using the long option position to offer the stock. Or he's offering the stock to have a bid for the options. Either way, can't hit the bid because it's a downtick. I'm looking a dozens of companies on my monitor with options expiring and I don't see very many near a strike price. I agree with your conclusions , though, about the direction and strength. I just don't think it's in the cards to move up sharply and quickly. It looks like a long, steady climb from here. Having said that, however, there are those who would say we have a "flag" or "pennant" formation and it's possible to see a huge breakout one way or the other.
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