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Biotech / Medical : Zonagen (zona) - good buy?
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To: BigKNY3 who wrote (2303)2/11/1998 4:07:00 PM
From: Bill Wexler   of 7041
 
<<Since you have a short position in the ZONA and the trend momentum is now going against you, do you cover and take your profits?>>

No, I never cover during short squeezes and rallies if no new information has surfaced to make me change my mind about the company's prospects. In fact - I usually use it as an opportunity to short more.

I did hedge about 1/3 of my position by selling Feb. 17 1/2, 20, and 22 1/2 puts.
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