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Biotech / Medical : Cortec (CRTQ)

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To: Jatin Kadakia who wrote (19)3/27/1997 5:49:00 PM
From: Warren Keschner   of 22
 
Dear Jatin,

I spoke to Joe Turner at Cortech and he really had nothing comforting to say. The company is very dissapointed with the outcome and it does not sound like they had not prepared an alternative plan if the Bradycor trials failed.
The only positive thing he had to say was that they were going to more seriously explore the possible sale of the company. So much for fundamentals. I had purchased the stock for technical reasons. The tools I use do not say to dump the stock at thses prices.
I see from the charts and tools I use that the stock should bounce up from these levels-How high I cannot tell-when you are dealing with such a cheap stock, each 32nd is material. Let the dust settle-do not sell after the news-it usually is the wrong time to sell-I would give it some time to see how the stock reacts over the next couple of weeks.
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