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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: HoodBuilder who wrote (4465)	7/19/1998 7:04:00 PM
From: zurdo	Respond to of 9523

Michael, although technically you are right, isn't it a fact that there are powerful money entities operating on the NYSE whose activities have the same effect as the MMs do on the NASDAQ?? These big money interests have the same strategy that the MMs have...Sell options, make a bundle on the sales, then exert enough selling pressure to keep the price down so that the options they sold expire worthless...Whether you call them MMs or Institutional Money Funds, their strategy and effect is identical...A Rose by any other name.....

To: HoodBuilder who wrote (4465)	7/19/1998 7:25:00 PM
From: B.REVERE	Respond to of 9523

Michael, I stand corrected on MM'S. I did follow the tape on Friday's close and it seemed to me that the stock dropped rapidly on fairly small trades, 1000 shares or less. This to me indicated that someone or group were driving down the price despite comparatively little volume. I also saw some 10000 block trades earlier in the day at the ask that didn't budge the stock more than a 1/16 upward. I believe it's true that there is less manipulation of stocks on the NYSE but it does occur and I think this was an example of that when a severe imbalance in call/put open interest exists like last Friday. The same scenario imbalance largely existed on MRK, but the stock would not drop significantly ahead of tomorrow's earnings. I also see a new closing high sometime this week. Good trading, BR