XOMA. Bull or Bear? Message Board

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Biotech / Medical : XOMA. Bull or Bear?

XOMA 32.18

-0.4%

12:59 PM EST

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To: Bluegreen who wrote (7658)	11/9/1998 7:36:00 AM
From: Tharos	Read Replies (1) of 17367

Unfortunately we are not going to find out if it was short covering until Dec. RapidResearch shows 54 institutions holding 8.2% of stock (7/20 was 55 inst holding 8%), so heavy institutional buying is unlikely. One would have to ask the question, "Who would be willing to chase a stock by paying ever higher prices for it?" I feel the answer is the "retail investor." The run-up smacks of one or two investment services recommending the stock and their subscribers subsequently piling on, but I have not been able to locate any new 'buy' recommendations, perhaps someone else knows. Double test of the $2 area, held both times. Shows strong technical support at this level. Those who purchased in this area are now sitting on handsome profits, but I think it only logical for the market to analyze the current $4.50 - 5.25 area for awhile. If for no other reason than it represents a double from the recent lows. A double in this market is hard to pass up. If the stock has an additional strong day, and blows past $5.50, then I would reconsider the possibility of institutional buying based upon knowledge not readily available to, or free for, the general public.

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