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Biotech / Medical : Biotime-Nasdaq's best kept secret? -- Ignore unavailable to you. Want to Upgrade?

To: Stephen How who wrote (754)	3/24/1998 8:16:00 AM
From: Anaxagoras	Read Replies (1) \| Respond to of 1432

Good questions Steve, but honestly I don't have much insight. I begin by making the vague, general comment that each stock has its own personality and behavior; that really amounts to a metaphorical way of saying that a stock's movements reflect the personalities and behaviors of buyers/sellers. Obviously, the funds are the gregarious extroverts at this party whose personalities overwhelm everybody else during Happy Hour. I don't have any statistics at hand concerning end-of-day sell-offs in general, but I believe that phenomenon might exist to a degree, and the reason given would probably be that day-traders like to close out their positions so that they don't have to hold a stock when the market is closed, a time during which they can't react immediately to any release of news. Of course, this holds for day-trading shorts as well, but there are far fewer of them, so their activity is overwhelmed by day-trading longs who close out at the end of the day. So, with respect to Biotime, learning about how funds trade in general, and how the specific funds involved with Biotime trade in particular, would start to give you a feel for why the stock does what it does, when it does. Unfortunately I just don't know enough about either of these to be of much help. :-( Of course reading the boards also helps to gain insight into the thoughts of the average Joe investor, and this can also be of some (small) benifit, particularly with smaller stocks. Yadda, yadda, yadda. ;-) Anaxagoras

To: Stephen How who wrote (754)	3/24/1998 8:30:00 AM
From: Jim Roof	Read Replies (1) \| Respond to of 1432

It would not surprise me if I learned that large short interests were dumping their orders in the system at the end of the day to simply drive the price lower. I would be careful with a short commitment here for 2 reasons. 1.) The stock is already well off it's highs and has tested this area twice before and it has held and 2.) this area around 10-12 was a spot where less than a year ago many longs sold and missed the big move to the 20's. They may be looking to get back in now. If so then BTIM will rally on long commitments and shorts will also cover. Jim