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Biotech / Medical : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Rich who wrote (578)	3/31/1999 1:44:00 PM
From: Raven McCloud	Respond to of 2515

Just a side note re: my comments about MM. Let me make a distinction. There are small time traders, such as myself, then there are deep pocket traders, then there are the MM, who are also traders. Between the deep pocket traders and MM, well, they can swing the price the way the want, esp. the MM cause they can see buys and sells before you or I can, as they accumulate. Traders account for more than 60% of the volume on NASDAQ stocks - just passing the stock back and forth between each other. To either "make a market" or because they need stock in their inventory to fill their clients orders or they have too much in inventory and they want to get rid of it!" I expect IMCL to close below $16. And how sweet it was to short more today above $16; it allowed me to raise my average price and will allow me to exit sooner, which I'm eager to do in order to get into some other plays. The one thing I dislike about small cap biotech "news" plays on the short side is that they can take a very long time to stair step back down. Good luck everyone!