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Biotech / Medical : Biotech & Pharma.T.A,

BIB 79.76

-2.1%

Dec 30 4:00 PM EST

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From: JMarcus	1/4/2005 3:23:20 PM
	Read Replies (1) of 3722

Bernard, how high do you think STEM will go? I sold my position today at $5, but I'm thinking that I should have held out for $7.00. Looking at the 5-year chart, there was nothing magical about the $5.00 level. In the summer of 2001, the last great rally for STEM, it went (in terms of closing prices) from $2.97 on June 1 to its peak of $7.00 on July 23, and then quickly retreated to $3.10 by August 31 -- a full cycle in just 3 months. Here's the 5-year chart: finance.yahoo.com Caveat: the great rally of 2001 was a Bear rally for STEM. As the above chart shows, the peak of that rally didn't break the downtrend started with the all-time high above $15 established late in the first Quarter of 2000. The current rally is a Bull rally. The long-term downtrend that stated in 2000 has been obliterated. Re INGN -- my prior post -- I'm wondering whether you think it is still in a trading range or at the beginning of a downtrend. Marc

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