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Biotech / Medical : Ultrafem (ufem)
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To: Mighty_Mezz who wrote (6)1/21/1997 1:05:00 PM
From: Brian Pastor   of 10
 
BusinessWeek reported on the 16th or 17th of this month that this stock was a favorite of short sellers. The magazine also reported that there are one or two money managers who are very bullish on the stock and think the short sellers are the ones who will be squeezed out. In the last three weeks, the short sellers did put the squeeze on this stock and briefly ran it down to the 12.5 - 13.5 range for a few days. In this past week it has rebounded (i.e. SHORTS COVERING) from this low range to the present 15.5 - 16.5 range. From its charts I think it still has a little more to go (16.5 - 17.75) before breaking up or down which I expect it will do sharply. If really good news comes out in the next two weeks, expect it to easily go back to 22- 25 range. If no news, neutral news or bad news comes out in the next two or three weeks, expect the shorts to drive it down to the 12 - 13 range again. Like life, timing is everything.
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