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Biotech / Medical : North American Vaccine
NVX 1.095+1.9%Dec 24 12:59 PM EST
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To: Don W Stone who wrote (81)12/1/1996 8:50:00 AM
From: Don W Stone   of 82
 
Volume drying up! GREAT SIGN

Last week NVX traded only 179,700 shares and was up 2 1/8 on the week.
This surely confirms that the float is getting thinner and even the slightest buying pressure gaps the stock up.
It is also a sure sign that the Institutions and Funds are not selling, at these prices ,infact I heard some were adding to their positions.
They surely know that the only news to come out of NVX will be good news and there will be plenty of that over the next several months IMO.

There is just no way that the shorts can cover under these conditions so I would say it will be quite some time before the short interest falls any significant amount and when it does it will be forced on them by calls. Not a good situation for the shorts IMO.

I am now more BULLISH (:-}) than ever for two reasons:

1. Company FUNDAMENTALS: Major good news is bound to come out IMO over the next several months adding to the already high buying pressure. Infact I am of the opinion that good news could come anytime so if one is thinking of uping their position this just may be the best opportunity one will have IMO.

2. The HIGH "short interest": some will be forced to cover as the stock continues to climb, but particularly on any good news releases IMO.
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