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Biotech / Medical : North American Vaccine
NVX 1.210-14.2%3:27 PM EST

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To: baggo who wrote (41)10/30/1996 7:44:00 PM
From: andy harrison   of 82
 
Dear Dr. :
It is good to see that you are considering going long. Hopefully
you will put the money you just made on the short side into a
long term investment going long with NVX. Like I have said previously,
the best is yet to come. Several of the vaccines that they
are working on have no competition at all.

With that out of the way I am damm pissed.
I was eating dinner when my father( who is also a NVX bull) called
me to tell me that Sturza issued a 2 page report that was apparently
sent only to some clients. I have a subscription to his newsletter
and didnt receive it. (must have been an oversight on his part).
He actually had the balls to state that NVX's DTaP application was
rejected by the FDA advisory committee. If this isnt the biggest
bold face lie I ever heard than I dont know anything. Apparently
he also stated that Lederle received committee approval.(Another
bold face exaggeration if not a total lie. He said that the stock
would go to $10.00/share. The man has no morals. If I make an
investment mistake, I take my lumps. This guy was just looking to
crater the stock and cover his short. We all know that he is short the
stock. I spoke to one of his cronies, Steve Sabba (who was at the
advisory meeting) about 2 weeks ago. Sabba told me that although
he wasnt short NVX himself, that I could rest assured that Mr. Sturza
was short a boat load. Well, if that isnt enough reason to attack
the stock repeatedly than I dont know what is.
The problem is that this guy and others like him are totally
unregulated. They are protected by the first ammendment. I guess
when our founding fathers wrote this document, they didnt realize
that 1/2 truths and negative innuendos would be protected by the
first ammendment. I was told that a very large institution bought
from 350,000 to 500,000 shares of NVX today. They basically put
the bucket out to catch all of the shares that were being sold.
It is quite possible and more than likely that most of the selling
was by uninformed retail accounts and also by stop loss orders.
Just remember that now several hundreds of thousands of shares
are now in the hands of another institution. What is going to
happen when they ask for delivery of these shares.
I am sure that Sturza will make more negative comments when he
sends out his regular Thursday night letter.
As a long I am more committed than I was prior.
I hope that we can keep the dialog going. I am sorry for getting
on the soapbox but this guy makes my skin crawl.
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