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Biotech / Medical : Spine-Tech (SPYN)
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To: PacMac who wrote (124)3/1/1997 4:26:00 PM
From: .com   of 242
 
PacMan, I have been a buy and holder with this. In hindsight, I could have played the swing from upper 20's to lower 20's a few times. As you mentioned, it keeps hitting resistance at 30.

This was all prior to their most recent earnings report when they exceeded even H&Q's optimistic forecasts. The prior dips have been the result of folks saying they wouldn't hit much more conservative estimates; they turned out to be wrong. With proven earnings now I think some of the wild swings will be over, unless they prove to disappoint at some point.

Personally I think it will base around here for a while then break above $30. But, this is a small cap stock and they have been out-of-favor for while. I am not sure how the whole medical device sector is looked upon. And, with the NADAQ down over 4% this week alone (yet SPYN up 5% on the week), who knows?
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