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Biotech / Medical : Medical Industries Of America, MIOA

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To: MW who wrote (336)10/7/1997 2:41:00 PM
From: David Russell Coburn II   of 570
 
All you know is it was a block trade. Actually two of them, one today also. Total of about 500,000 shares. It could have been the MM letting some fund etc. in at a good price. If that is the case were gonna move. Bid is at 2.25 right now. High ask for the day is 2&5/16. That's where we are at right now.

Another note 500,000 shares is 12.5% of the float. That much does not trade at one time and not move the price unless somebodys getting a deal.

I think were gonna be ok. Watch close, this one is acting very strange. Something is up. Good or Bad yet to be determined.

David
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