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Biotech / Medical : Neurobiological Tech (NTII)
NTII 0.00010000.0%Mar 7 3:00 PM EST
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To: Apache Indian who wrote (531)4/30/1999 5:57:00 PM
From: Dr. John M. de Castro  Read Replies (1) of 1494
 
Apache Indian, it happens very often when a stock pops like NTII did. The buy orders come in fast and furious and often overwhelm the inventory of shares that the MMs have. So, they raise the price and sell shares short. After the furor has died down, the MMs slowly bring the stock value down and then purchase the shares to cover their shorts at a much lower price than they sold them for. A dead giveaway that this is occurring is that the MMs discourage buying. they do so until they've collected enough shares to cover their short positions. They discourage buying by increasing the ask to rediculous levels and refuse to fill any orders between the bid and ask. This is exactly what has happened to NTII the last two days.

Have a great weekend
John de C
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