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Biotech / Medical : Monsanto Co.
MTC 2.510-5.6%Dec 5 9:30 AM EST
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To: jopawa who wrote (1083)2/4/1999 6:50:00 PM
From: Dan Spillane  Read Replies (1) of 2539
 
Interesting combination of factors related to MTC price

Here's what we've got which explains the wrestling with the 50 dollar price level:

1)Chartists claiming "resistance at 50"
2)Risk arbs looking for a place to short.

-and, on the fundamentals side-

3) Incredible Celebrex prescription numbers, some of which haven't yet hit the news wires.

(from your story)
Risk arbs short the stock of an acquiring company and go long the stock of the target company, hoping to lock in the spread between the two stocks.
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