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Strategies & Market Trends : Classic TA Workplace

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To: jmanvegas who wrote (65782)	2/9/2003 7:34:16 AM
From: At_The_Ask	of 209892

Actually I don't hold to the gap theory either. Lets say a person was worried about the gap on the way up and they didn't buy the stock at 15 because he was worried about the gap. He would have then missed out a three bagger. Some stocks have breakaway gaps that never get filled until many years later when the company enters the phase of it's decline, as in the business model doesn't work anymore or whatever. On a TA basis if it breaks it's support line from 20 across the recent bottoms then you'd better be out, that's all that needs to be said, It could go higher, I never say never. The fact that we are in a bear market adds to the possibility that the gap will fill so as you can imagine now isn't a good time to give anything the benefit of the doubt. You seem to have a lot of faith in what management has to say about future income and I find this hard to believe given the corporate wrongdoing that we have seen and that continues to be prevalent. If I were you I'd make pretty sure what they are saying holds water. I think you are right that it's relatively undiscovered because I checked around on yahoo and nobody seems to ever discuss the stock. This could mean that it's little known or that it's a POS and not worth mentioning. I've been scanning charts of a lot of stocks and I see all kinds of low pe stocks getting taken apart nowadays. Just because it has an e to go with it's p isn't a guarantee that it will stop going down. If you read the news releases from the co last year they had similar drug related announcements and the stock fell all year. I haven't heard any explanation from you as to why it went from 53 to 20 last year. When I see something like that I can pretty reasonably guess that something stinks in there somewhere. As for being glad to be rid of you thats really not the case, as long as you're civil. It's usually dead around here on the weekends and it's nice to have something to talk about, in fact it's rather dead here during the week. Since I'm not long the stock and have no intention of doing so I don't need to do the DD. The cursory bit that I did do leads me to believe that it's nothing special. In fact I think I know something about their business model that you don't. It will be on my watch list going forward and if it fails to take 35 by mid week next week I probably will take it for a ride to visit that gap. JMHO I can't see a billion dollar drug company growing at these rates selling for $8/share which means its P/E would be below 4 and the company would trade below 1 X projected sales of 2004 Believe it. This isn't 1997. Metrics like this will be common within the next 5 years or so and the only nuclear devices going off will be in peoples 401k's. yahoo.marketguide.com The ceo got 100mil in options last year.

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