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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: M. Ramle who wrote (1118)	9/2/1998 8:09:00 PM
From: ok	Read Replies (1) \| Respond to of 10280

Thank you very much Mazen for your analytic response.It makes perfect sense to me.After today it is a bit easier to contemplate the future,although further volatility is almost assured. Oscar.

To: M. Ramle who wrote (1118)	9/2/1998 8:30:00 PM
From: ocerg	Read Replies (1) \| Respond to of 10280

I don't agree with your scenarios. First SEPR does not trade on the NYSE, where a specialist (MM) controls the trading. In the OTC market, there could be 50 MM buying and selling SEPR I am not saying it does not happen but your second scenario would require some degree of collusion amongest MM's. I prefer to think that at whatever point in time, there were more sellers than buyers and vice versa.

To: M. Ramle who wrote (1118)	9/2/1998 9:26:00 PM
From: John Metcalf	Read Replies (1) \| Respond to of 10280

Mazen, thanks for your micro-analysis. With all due respect, I suggest another hypothesis: that beginning last Thursday, August 27, George Soros (and Quantum Fund) may have begun to liquidate their stakes in Sepracor to cover losses in Russia. During this time period, there was a 25% loss in SEPR shares in the face of obvious demand today.