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Biotech / Medical : Techniclone (TCLN) -- Ignore unavailable to you. Want to Upgrade?

To: John Wallner who wrote (2549)9/15/1998 4:32:00 PM
From: Jim Baker  Read Replies (2) | Respond to of 3702
 
Two guesses:

1. CEO is in NYC talking, and someone liked the story.

2. Some short got a margin call, couldn't/wouldn't meet it, and got bought in at the end of the day.

A suspicion:

That EGF $20 million deal created lots of stock for sale at about $1.50, which is why we closed there today and not at $2. Some guy looked at his screen and realized there was a buyer, so he made a seemingly unlimited amount of stock available at $1.50

An expectation:

Need to see much much more stock bought tomorrow, before we get through that $1.50 ceiling in a permanent way.



To: John Wallner who wrote (2549)9/15/1998 11:12:00 PM
From: Jim Baker  Respond to of 3702
 
A few odd things happened at end of day:

Little volume (in dollar terms, real small volume suggests some retial broker)

Sloppy unsophisticated trades (who paid $2?)

But why buy today? (leads back to the CEO in NYC?)

I still think not enough volume to push past that possible supply at $1.50


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