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Biotech / Medical : Nortran Pharmaceutical -NRT.V
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To: Mitch who wrote (706)5/14/1998 2:14:00 AM
From: Ms. Forthright  Read Replies (1) of 1185
 
Mitch,
I think the major problem on that fateful day was the presence of too many traders in for a quick flip. The deal had been in the works for a long time, and it was leaked long before it was finalized and announced. The true investors were buying (thankfully) and the flippers were selling. Those buying understood the merits of the arrangement. The sellers had hoped for a big jump... but there were too many of them. A rule that most short term traders live by is "Hit the Bid". You want to beat the next fellow getting out.

I believe that more sophisticated money will soon start to flow in for a variety of reasons ( TSE listing, analyst coverage and so on). There will be some resistance as those flippers who forgot the hit the bid rule get out but new highs shouldn't take too long. In my opinion Nortran is now trading far below its value. This situation can't last much longer.

I hope to meet the contributors to this thread tomorrow.
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