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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: James Silverman who wrote (484)3/16/1997 10:43:00 AM
From: John Grandy   of 6136
 
james, perhaps you're right that there is not a concentrated scam going on. and large-price swing mm manipulation is always a silly theory to anyone who has traded seriously for longer than a month or so.

but nonetheless, i believe that the stock has been manipulated. the very savvy discretionary traders with large lines of credit (i-banks, some of the mutual funds where the head guy has a lot of leeway, hedge funds) clearly understand how the day traders operate and also understand that the balance between the momentum players in the stock and savvy longer-term investors. some loose collection of these guys probably with some defacto assistance from one or more mms are ganging up to short it down, simultaneously planting rumours, driving out some of the weaker recent-money hands, with a careful eye to technicals, absorbing it after a certain point if the fall gains momentum, and then acting concertedly to trigger day trading momentum rallies which they sell into near the top. i believe this is what happenned last thursday.
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