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Biotech / Medical : biotech fireworks

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To: tuck who wrote (2545)7/1/2006 3:01:13 PM
From: hmpa  Read Replies (1) of 7424
 
TRCA was up over 20% Friday
This seems to be a part of a "very" unusual pattern for Russell additions and exclusions. Unlike any of the previous years I am aware of, most of the dumped issues went up in a meaningful way (e.g. see ISTA), while additions somewhat slumped, see e.g. finance.yahoo.com

I don't understand why it could have happened - other than for some reason accumulated short and long positions, respectively, in anticipation of the rebalancing were bigger than actual demand for shares.
(Alternative is if there is a large net short position on Russell ETF - I have no clue how it is getting processed - does ETF have to go and short the shares?)
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