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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: John Metcalf who wrote (348)2/23/1997 5:11:00 PM
From: George T. Santamaria   of 6136
 
I've been watching AGPH closely and will offer a few observations:

When it hit it's peak last week, the stock price seemed to have hit this artificial ceiling at just around $100, as if program trades were set to go at that level.

The last few minutes of Fri trading seemed to hit an artificial bottom at $86.25. Seems like a few big trades dropped it to that level and then maybe a number of successive smaller trades provided support at that level.

According to Barrons, the stock was at ~90.5 when Dow Jones shouted "fire" in the theater. Was 3:14 "call your client time" for most brokers with clients heavy in the stock? Just a "mild" correction?

I have to concur with those that discount the Vertex connection. A Co. with possible good news a year out would not cause such a sharp impact.
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