Centocor ( CNTO ) Message Board

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Biotech / Medical : Centocor ( CNTO )

CNTO 0.00001000

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Mar 7 3:00 PM EST

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To: Pancho Villa who wrote (594)	3/25/1998 1:08:00 PM
From: FNS	of 965

Ciao, Pancho! <<I dumped 2/3 of my CNTO position at 42 even today without much research, just based on the downgrade.>> Si, io capicso ma sono una testa dura italiano/americano! (I understand but I'm a hard headed Italian/American!). I shorted aagainst the box at 41 5/8 a week or so ago and was forced to cover at 42 3/8 (the high of the day) for a $12K loss...thinking that it would go higher--but now the downgrade! The problem now is that if it can't hold above 41 1/2 then 40 is next support and then 38 if things get really bad. However, I'll consider buying some calls if it tanks. Drugs down today and NASDAQ getting overbought. And then should the DOW see 9000 I'm sure we'll have a good CORRECTION. However, at this point I'm long and if CNTO does'nt rally soon then some basing will be in order. Choppy market, selling is wise, particularly if you have a profit! Offtopic: <<I still insist we will see much lower equity prices in the 98.>> Only things I'm looking at are the oil services and dd makers cause they've been hammered so much! I think COMS be be OK; WPI and ATHM look interesting! Will be doing another 4-5 week study/tour in Italy this summer...Sicily or Urbino areas. Talk more later. Bella Giornata! FNS

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