Biotech for less than a buck. Message Board

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Biotech / Medical : Biotech for less than a buck.

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To: Mike McFarland who wrote (155)	11/9/1999 12:30:00 AM
From: RWReeves	Read Replies (1) of 743

I think everyone that was going to lose interest in SNAP already has. Saw the usual doldrums-like drift following the drop, seems this is a resistance level (aka nobody cares enough to sell it). I think Peter had a "Neuro" portfolio that reflected the general lack of interest in the market in things neurological. Besides AXPH and SNAP I have a bit of NYMX for Alzheimers. I think we need another hunting season in Neuro and then these will pop up. Hate to suggest it but a shark attack on thin volume like this could probably also drop these. LGND was the same way for nearly 6 months, just cranking out patents and no price action and now it comes back to life, especially as LGNDW which are up 50% from the 2 buck low tide mark. ARIA was moving pretty fast, I figured there were a fair number of sellers that would be attracted above 2 bucks. These guys need to get out and stay out and then we should have a slow climb for another .50 or 1.00. Be interesting to see what Lampert does with his- if 100% is enough for him or he holds on. Looks like you have a potential live one in CTIC, I've been planning to add it to the BTFLTAB/SW portfolio. CRXA looks very interesting as well. <wouldn't think it would trade much lower than cash (right?)>. Odd, I was just over on son of TFIF suggesting a "bet the farm" portfolio using max. margin for stocks that are at cash parity or better. Yes, Virginia, biotechs have been known to sell for less than cash per share pretty darn regularly. CTUS was once 3.50 with 7 per share in the bank and made money on these several times since then. Eventually the market lets out a collective "DUHHHHH!" and the aberration is fixed. Glad to see you're back. RWR

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