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Biotech / Medical : Biomatrix (BXM) Looking Great

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To: Dick Richardson who wrote (512)7/20/1999 10:54:00 PM
From: James Baker  Read Replies (1) of 569
 
I am long BXM have have been for some time. There are many shorts out there rooting against this stock and company.
The pluses: look at their sales and earnings growth.
Barron's this wk has the 100 best fund managers. One of them has BXM as its 3rd largest holding. American Century Heritage also owns BXM as 2.8% of the fund and tied for #6 holding.
Major pharma companies are paying millions just for the privilege of distributing and selling SYNVISC.
BXM has become a big momentum play. I say it will not go below 20-22 and I hope will hit 32 soon. the opening was delayed the last two days with order imbalances and bigs jumps up to start each day. these are big buyers thinking owning BXM is where to be. If you want to trade BUY LOW and sell high. If you want to short better to short it after a strong jump up. But then it might just keep going up.
Jim
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