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Biotech / Medical : Cistron Biotechnology(CIST)$.30
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To: Sidney Reilly who wrote (1273)7/15/1998 9:09:00 AM
From: Zvi Yammer  Read Replies (1) of 2742
 
The spread is wide because the MM's are short a sh**load of stock and they have NO intention of buying back at these prices.

So if you come in for a bid of .33 they'll raise it. Or if they want to short some more they'll lower the offer.

But for now tye MM's have probably been dumping between 45 - 60 cents per share and will buy back arounf 25. (IMHO)

Hopefully there'll be some strong fundamental reasons to screw these guys over, But the details can take months and the MM's are playing the odds that most people won't wait to find out and will get discouraged when the price goes down and will bail!!!

Buy all you can at a .25

Zvi

p.s. Cist is not a normal penny stock.. To those who know it it has financial and technological strength. To others it's just a penny and when the story hits people buy and then they usually fall back. (Remember the IMNX settlemnet. or the Presettlemet news the prior April) The shorts made out like bandits!! So if I were an MM not really following the news to closely I would be shorting now as well.

Hey look how many MORONS jumped onto to BICO stock went from 3 cents
to 40 cents cause they got approval to sell an $8000 machine for blood sugar checking which is not insurance - reimbursable and competes with a 300 dollar (invasive) machine..

125 million shares traded in 2 days!!! Stock will be at 3 cents agian in no time.!! This is not a rational market.. CIST is not the usual case.. for those who know it. For the MM's it's business as usual.
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