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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: virgil vancleave who wrote (891)	6/21/1998 11:58:00 PM
From: Manny Gugliuzza	Read Replies (1) \| Respond to of 1386

here is a very good example of the manipulative nature of options and the floor traders making a market in this issue. the trading had to end just below the automatic exercise of 3/8 in the money. if you were not around to call in you would loose the right to buy at 5 and the .25 cents per share. the downward shorting pressure should lift now and the MM will let trading resume without as much influence till next expiration. good fundamental reports from earnings etc. should move us back to challenge the 6.5-7 area sooner than you think. good luck to all ar.