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Biotech / Medical : Depotech(depo) -- Ignore unavailable to you. Want to Upgrade?

To: ForYourEyesOnly who wrote (235)	11/20/1997 8:41:00 PM
From: Tom D	Respond to of 887

I don't think its really doing much yet. You are right that sellers below 15 are few. The sellers seem to still be there, but they are just waiting for 15 to trade out of the stock. For the most part, in the last few weeks, more sell orders have been coming in to replace those that are executed around 15 to 15 1/2. There was an unfilled bid of 500 shares at 14 1/2 which disappeared in the last seconds today. Unlike the last two weeks, one of the MM's jerked the price up in the last minutes on small volume. Somebody wanted the appearance of a strong close. This is different. Somebody has been making it close low on most other recent days. Here are the level 2 quotes at the close today: Bidders: at 14 1/4: 5 bids, each of 1000 shares at 14: 3 bids of 1000 shares and one more of 1700 shares at 13 7/8: 2 bids of 1000 shares each Sellers: at 14 7/8: 2 sells of 1000 shares each at 15: 4 sells of 1000 shares and 1 of 5000 shares at 15 1/8: 1 sell of 1000 shares at 15 1/4: 2 sells of 1000 shares each at 15 1/2: 1 sell of 1000 shares This is just my opinion, but I think that in order to start a meaningful movement, DEPO has to break out through 16. I hope I am wrong, but I think there is still significant resistance between 15 and 16. My guess is that: 1) the overall market has to stabilize so that there are fewer opportunities for hot money competing with DEPO and 2) we have to get a little closer to December 18. Imho, the sooner it breaks out through 16 the higher it will go, and this may happen at the end of next week, or shortly thereafter. I am a novice at interpreting level 2 quotes, so I don't have a lot of confidence in my conclusions. But it seems like you might be interested in more detailed information. I am glad Scott got on board. I think he will be likely to repair the damage Anesta did to his portfolio rather quickly with DEPO. Thanks for you opinions about Japan. I am reassured. Best Regards, Tom D