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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: LarryS who wrote (10495)	6/17/1999 5:05:00 PM
From: aknahow	Read Replies (1) \| Respond to of 17367

In trying to understand I -Watch I think you were correct in detecting a net buying interest today. I do not know how an institution or acquirer builds a major position, I can only speculate as to what I would do. At a certain point after having acquired enough of a position to ratchet up the price I might present myself as willing to buy at one price and also willing to sell at a slightly higher price. This would help put a lid on the stock and I in theory would gather shares from the eager sellers and sell some to any more eager buyers. Even if the end daily result was to not add a great deal to my position I would earn something during the day. Is this what happens? Just very interesting that most of the buy messages were matched to sell messages with of course the buy only messages. Would guess that eager sellers, that bought at $3-5, as you also have said have already sold. News is IMO the only thing that will move the stock up or down. The buyer or buyers have not yet decided they need to pay up for the stock. The first major news should be I-Prex but there is no assurance that it is still on track. If it is XOMA must be very close. If the partner is not BOL and rather, Japanese, then XOMA may only think it is close to an agreement.

To: LarryS who wrote (10495)	6/17/1999 5:42:00 PM
From: aknahow	Read Replies (1) \| Respond to of 17367

Understanding I-Watch. Free information from I-Watch is available and here is a cut and paste from one of todays e-mails. I suggest anyone with an interest in a better understanding of the markets and I-Watch get and read them. CPQ - Personal Computers - Technology 17-Jun-99 11:33:53 Compaq's stock is shrugging off earnings worries, rising from a new 52-week low of $20 hit earlier this morning to trade at its current price of $22 1/4, at the break-even mark. Institutional investors have been active throughout this morning's session with over 65% of total volume attributable to block transactions. Thomson I-Watch shows that, in terms of volume, the sellers have significantly outpaced buyers in the pre-trade market. This is inconsistent with the stock's trading pattern - a detailed review of the post-trade data helps to shed some light on this. There is one particular broker who is aggressively buying shares today - this broker has booked over 5.8 million shares in trades (about about 25% of total volume), almost exclusively as buy transactions. This broker has a large institutional client who is either covering a monster short position or believes CPQ is a screaming buy in the low $20's. The broker is not advertising in the pre-trade market. As long as this broker remains active in the market, CPQ's price will be supported. However, at some point the underlying order behind this buying will be filled and CPQ's price is likely to pull back in the short-term as a result. This order could be filled in the next few minutes or over the course of the next few sessions - it is, unfortunately, impossible to tell the total demand behind the broker's activity.