Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?

To: nab who wrote (2923)	8/1/1999 6:42:00 PM
From: BARRY ALLEN	Read Replies (2) \| Respond to of 4140

Avalon issued its original sell/sell short recommendation on June 10, 1999, when SNRS shares were trading at $12.38 and subsequently raised its rating to a strong sell/sell short on July 19, 1999, when SNRS shares were trading at $19.00. Avalon based its sell/sell short recommendation due to various concerns over potential problems with the clinical data for SNRS' Hyperion (Holmium) Laser and the LTK procedure for Hyperopia submitted to the FDA. These concerns were borne out when a FDA Ophthalmic Devices Panel unanimously rejected SNRS' PMA on July 22, 1999. I'll tell you what is strange here......or should I quote Russ Trenary, "curious"! Lot's of stocks have longs and shorts. Some stocks have an extremely large short position and others have an extremely long position. This is normal market activity. SNRS had an extremely large long position spread out among many MM's and brokerage firms throughout the country. What's strange or curious is that the large short position in SNRS was concentrated in one MM called Avalon Research(AVLN). Did they know something that all the other MM's or brokerage houses throughout the country didn't? They shouted out their position in June and again in July but all the other MM's were buying---not selling! What did AVLN know??????????? Answer: It's all in their Press Release! Somehow they were tipped off. No Research firm would put all their eggs in one basket especially without even visiting or interviewing with SNRS. They must have held at least 50% of the SNRS short position, 3.5 million shares. Trading records can bring this out. Just like someone who knows of an impending takeover and loads up prior to the announcement date. The SEC would be crawling all over their purchase records. This sure will interesting and exciting over the next few weeks!