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

To: aknahow who wrote (5203)	12/29/1997 10:21:00 PM
From: Tharos	Read Replies (1) \| Respond to of 17367

my 2 cents says on a stock a thinly traded as xoma, a fund wishing a sizeable position (arbitrarily I will say 50K+ shares) would make an arrangement with one of the market makers for X thousands of shares at a specified price and when the contract requirements had been met the stock would exchange hands at a small premium. If as you suspect this was part of a general recomendation, then it is possible a broker had enough orders to total 10K so went out and purchased the block to redistribute at a slight premium. I am not sure just exactly how this process works, but know it is done, expecially if the broker is not one of the market makers.