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Biotech / Medical : IMNR - Immune Response -- Ignore unavailable to you. Want to Upgrade?

To: Manny Gugliuzza who wrote (680)	6/30/1998 11:42:00 PM
From: Robert Knight	Read Replies (2) \| Respond to of 1510

The last 1 1/2 hours of trading today was quite interesting. Lehman sat on the offer at 15 1/8 and would not budge. Sherwood, Oppenheimer, and Knight, all joined LEHM as they seemed determine not to allow the stock to trade higher. The trading activity was not your typical supply/demand equation as someone mentioned earlier. A concerted effort seemed to be mounted to keep the stock from trading higher. It very well might have been some of the institutional players lightening the load, thus the supply of stock on the offer. OPCO definitely is proactive, along with NITE on the short side. There is no doubt in my mind as I watched the stock trade the past three sessions. There is a documented 1.7 million share short position so someone has to be protecting their short position. As Jane Jackson has mentioned, IMNR could have a spike higher on any substantial news. If I was short I would at least try to limit my exposure en lieu of the events that are about to take place in Geneva. Tomorrows trading should be quite interesting. I believe the new data coming out of the conference enhances IMNR chances of making the splash that we are all looking for. Good luck to all..... Robert