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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: I. Luttichuys who wrote (308)1/23/1997 6:20:00 PM
From: Brad C. Dunlap   of 1762
 
Hi Bennett, it is so difficult to try to predict the short term, so I hesitate to say when exactly Idec starts to perform. From an event stand point I have put in my mind to start accumulating after Coulter is brought public and all of their info is made known to the public. Now with Eric Hecht joining merrill this could be another reason to start nibbling as early as next week. Technically, there is nothing in the chart that signals a buy but Idec tends to move very fast when the time comes. If one waits for a technical sign then you probably will be paying a few points more. My mind works in a very suspicious manner and merrill lynch and morgan stanley both have options that are priced in march and there is incentive for them to keep the stock down in order for these options to be priced at a lower exercise price. I doubt that this will really be an issue but one never knows. On a long term chart this up and down/sideways action is very healthy. Actually Idec has been digesting the huge move from the low 2's since june of last year. This is very common and healthy. I suspect when the time is right for Idec to make its advance the technical base is plenty long in duration to support a powerfull move. I personally plan to start accumulating at the end of next week assuming Coulter is priced on Monday or Tuesday.
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