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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?


To: Dr. Seuss who wrote (2755)9/9/1998 8:29:00 AM
From: Bob Davis  Read Replies (2) | Respond to of 18998
 
Special Situations Alert....

For the last several days, MTY has been in a forced sell-off as the result of margin calls which a major investor was unable to meet. This sell-off is now over and the stock has begun to rebound.

Shortly before 1:00 PM yesterday a block of 147,500 shares of MTY changed hands at $2.75 in a pre-negotiated trade - the liquidation of the last of a substantial block of the Company's stock which had been overhanging the market. Immediately after, the bid size dropped to normal levels and the stock began to move upward. More information can be found at napeague.com

Bob Davis
The Napeague Letter
napeague.com



To: Dr. Seuss who wrote (2755)9/9/1998 10:44:00 AM
From: RockyBalboa  Read Replies (1) | Respond to of 18998
 
ZONAGEN: Pumped up to 15 without volume.

Now at 15 1/4, will seize the opportunity ro short some of them.

Christian



To: Dr. Seuss who wrote (2755)9/9/1998 11:30:00 AM
From: virgil vancleave  Respond to of 18998
 
I had to buy puts since my broker said they would not give me shares. But when I get quotes and asked, shares are restricted like you said. But I don't know for sure why or what that means.

Could be due to large insider ownership. Also, I agree that yesterday was purely short covering and todays action just shows that. Stock has some strong overhead supply in the 50's up to 62 and as has been stated is grossly overvalued. But in today's market, valuation just has no meaning.

Another stock we should keep our eye on is imnx. It is also overvalued and is due for an fda board soon. Disapproval could spell big trouble and stock has some overhead supply in mid 60's. not sure where it is now.

good luck



To: Dr. Seuss who wrote (2755)9/9/1998 4:49:00 PM
From: R.E.B.  Read Replies (1) | Respond to of 18998
 
I believe this refers to a stock that is opening down and there are a lot of short requests being submitted before an uptick. Must have an 1/8th point uptick before you can short and there must have been a lot of short sells (attempted) at the open and since the stock was heading down, those short sells will not go through.

R.E.B.