Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : SAFESKIN -- Ignore unavailable to you. Want to Upgrade?

To: Suma who wrote (619)	3/10/1999 5:10:00 PM
From: Dave Twibell	Read Replies (1) \| Respond to of 828

I watched SFSK as closely as I could today and it was fairly clear that Morgan Stanley is selling a huge position, which likely accounts for the extreme weakness over the last day or two. SFSK is very strong when MSCO lifts off the ask. For example, SFSK jumped from 18 to 19 5/8 this morning after MSCO drove the price down and lifted. My guess is that most of the mm's know MSCO is unloading and are waiting until he is done to start moving the price back up. This happened this morning, but MSCO came back with a vengence in the late afternoon and single-handedly forced the price down to 18 again. I bought today at 18 1/8 and fully expect the stock to move back to the low 20's once MSCO goes away (which should happen soon given the volume the last two days). Today's morning rally showed that there are buyers out there, they're just scared to come out of their shell till the selling carnage is over. The kicker is why is MSCO unloading so many shares. Could be bad news on the horizon, or could just be an institution that wanted out for reasons having nothing to do with SFSK. No way to know, although I am encouraged that there is only one large seller out there, as I would expect rumors of bad news to draw in several mm's as sellers. Either way, should know soon. Good luck. Dave