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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: Chisy who wrote (10148)	5/21/1999 4:00:00 PM
From: aknahow	Respond to of 17367

Don't know what is going on with the quotes as my live quotes show 4 3/4 as the high. I Watch shows over 400,000 messages 100,000 per time plus smaller strong interest messages. Institutional transactions were over 1/4 of all transactions, I Watch reported and non I Watch. Bottom line is that if institutional buyer(s) have been responsible for a lot of this weeks buying disclosure will be made shortly as it would seem that the 5% level probably has been reached. While I doubt the decline in XOMA was manipulated it works to any big buyers advantage. First of all it is able to continue buying at a lower price. But more importantly it conditions some to be ready to sell out should XOMA once again go above $5, which keeps the stock from running away from a buyer. IMO the Washington state Biotech meeting helped push a lot of biotechs down. The comments as reported were bleak. The biotech industry deserves some of its' problems. It still thinks it can spend money like water on fancy annual reports and have all sorts of expensive gimmics on its web sites, (XOMA is an exception to this IMO), but worse it believes it can provide information selectively. In the case of biotechs it is not necessarily to analyst but to the doctors and scientist at meetings that may be held long after the information is available and could have been released to shareholders.