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Non-Tech : Bill Wexler's Dog Pound
REFR 1.560-2.5%Nov 7 9:30 AM EST

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To: Bill Wexler who wrote (1251)6/7/1999 7:49:00 PM
From: Bill Wexler   of 10293
 
Wexler initiates coverage of Chromavision (CVSN) with STRONG SELL/SHORT SELL recommendation.

Chromavision is in the business of making "automated cellular imaging system". To put it more plainly, they make a slightly souped up microscope. I use the term "business" loosely since the company has no revenues or earnings to speak of. Much excitement from pending FDA clearance and a strategic relationship with SFE. however, I detect a wee bit of excessive stock promotion in the air, along with the usual overstated market size and understated competition (ref: KERA and BTIM). I believe that now is a good time to begin shorting a bit. Get ready to short a boatload upon any FDA news (positive or negative...an FDA approval will probably cause a rapid spike/collapse similar to BTIM - though the relative volatility will probably remain low, since the short position is minuscule). In either case, the trip back down will be swift and brutal.
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