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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: Constant Reader who wrote (4396)	5/27/1998 10:09:00 PM
From: Zirdu	Respond to of 6136

AGPH short interest mid May was 9,519,722 shares, vs. 7,793,150 in mid April, an increase of 22.2%. Ave daily volume for the month was 854,850 With only 30,867,000 shares outstanding, this is a significant short position. I myself don't have a problem with a large short position in a stock I am long. In the final analysis, this means that AGPH stock has already undergone 9.5 million shares of additional selling pressure, and that there are 9.5 million shares of pent up buying pressure for some time in the future. Of course we don't know if the shorts will be covering at much lower prices, like they hope to, (thereby helping us to some extent by putting a floor on the stock price), or at much higher levels like we hope, thereby exaggerating any up move. Any serious takeover talk would seem to put the shorts in serious difficulty. RR