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Biotech / Medical : Vivus, Why the Slide?

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To: Linda Kaplan who wrote (3916)9/25/1997 8:02:00 AM
From: Louis Riley   of 3991
 
The September Nasdaq short interest figures were released last night.
For VVUS:

10,266,009 shares were short as of the 9/15/97 close, down 1.1% from August.

Only 18,298,400 shares have traded in the 7 sessions since 9/15. Of course, divide that figure by at least 2 (maybe as much as 3) to account for an MM being in the middle of every transaction. Also be aware that the volume has been highly inflated during those 7 sessions by an inordinate amount on intraday trading by SOES bandits.

So, it is highly unlikely that even 25% of the short interest has been covered yet.

The best is yet to come............
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