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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE -- Ignore unavailable to you. Want to Upgrade?

To: Instock who wrote (381)	12/15/1997 8:56:00 PM
From: Sergio H	Respond to of 2377

Scott, speaking of shorts: <GLIATECH INC (GLIA) 12 +4 3/8. This is the type of play investors so often get burned on. News hits before the open that the company has received FDA clearance for a drug, and investors jump all over the stock, bidding it up in pre-market with buy orders -- the majority of them at the market. But only moments after getting filled, investors find themselves underwater on the trade. Gliatech shares played that familiar song this morning. After the company announced, before the open, that an advisory panel to the U.S. Food and Drug Administration (FDA) recommended approval for the company's application to market an anti-adhesion gel in the U.S, GLIA shares soared to $14.50 in pre-market. At the open, GLIA shares commanded $13.50, 77% more than you would have had to pay on Friday. After head-faking higher to $14 (the stock's intraday high), the issue began to tumble. Now, this is typically the time when one wants to consider making a play on these types of stocks: after the early buy-at-the-market orders have been filled and the stock begins to edge its way down in search of new bids. But let's get back to the catalyst, the news that set the stock in motion. Gliatech's ADCON-L gel is the first product designed to inhibit undesirable scarring and adhesions following lumbar disc surgery. The gel provides a physical barrier to postsurgical scarring and adhesions that occur when tissues and organs bind together following surgery. These adhesions can lead to recurrent back pain, impairment of function, and poor surgical outcome. Of the more than 400,000 patients that have lumbar disc surgery each year in the U.S., up to approximately 40% experience recurrent back pain following surgery.>