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Microcap & Penny Stocks : ABTX - Agribiotech -- Ignore unavailable to you. Want to Upgrade?

To: John S. Baker who wrote (7960)	5/12/1999 8:00:00 PM
From: John S. Baker	Read Replies (1) \| Respond to of 8359

The option anomaly exists again today ... stock down but June 7.5 calls up. From a technical perspective, ABTX is in real trouble ... virtually every indicator I monitor is headed SOUTH! But.... Since the darkest day, defined by my system as March 5th, seven of the eight highest volume days were UP days, and the 8th was a neutral day. One interpretation is that we have run out of people who are interested in selling a these prices; rather there is just an absence of people willing to buy. This interpretation is based on the idea that low volume days represent the normal ebb and flow of people getting into and out of the stock for EXTERNAL factors not related to the stock itself -- tooth straightening, college tuition, vacation plans, alimony, new Jaguar, etc. And high volume days are days in which the transactions are driven by investors who really want to get in or out based on INTERNAL or INTRINSIC factors relating to the stock itself. So the last week especially represents a significant lack of buyers ... no real strong selling pressure, but even less strong buying pressure. But the option anomaly suggests that some investors are protecting themselves against a significant "pop" within the next six weeks or so (fourth Friday in June). My guess is that this may be a classic game of "hide and watch" to see what the financials look like tomorrow or whenever. As always, alternative interpretations requested (and respected). JSb.