Cycle dude good call, maybe I need to understand this cycle stuff. I'm also wondering whether this could be/has been CELG just picking up enough shares cheap to assure majority control--which would not necessarily be good in my view--they could then cause ENMD to drag its feet on 2ME while they rack up $$$ on Thalidomid and the Revlimid. Hate to be cynical but then I thought Merck was a great company until recently.If CELG got over 50% though I think thet'd have to announce it.