IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Webhead who wrote (415)	3/3/1997 12:45:00 PM
From: Webhead	of 1762

I was very suprised when IDEC's price slipped quite a bit this morning after tipping up to 25 3/8. (Right now we're at 24). I simply couldn't understand how this news could lead to a DECREASE in share price. Then I looked at the trades today and I think I've found the reason. IDEC started a fast slide with moderate sized blocks (5-15) being traded. At about 11:30 a buy of ~70,000 shares ( $1.7 million) went through in a block and only raised the price 1/8. I think that this indicates some market makers were encouraging a dump of stocks from profit takers and then quietly execututed their buy limit at 24 1/8. I am not one of those conspiracy theorists that think MMs control stock prices at their whim but this trade certainly looks odd. Hopefully, the price has bottomed out and we'll start to see some buying on this news! I'ld certainly appreciate someone else's opinion on this trade. Ed

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