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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID
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To: Rick Costantino who wrote (661)4/16/1997 10:09:00 PM
From: I. Luttichuys   of 1762
 
Rick, on the options for IDEC I like to pick them up at precisely times like these and dump them at the earliest rally. I do not like to hold them like the stock AT ALL. The last set I had I dumped into that previous mini-rally and I sure am glad I did. Right now, if I were to consider them again, I would look way out to OCT 25s.
You could be correct about some sinister cause for the drop but remember, last summer I was also in IDEC and watched as it went from 32 5/8 to 13 1/2. In mid-july, at around 14, as nervous as everyone was, I loaded up on IDEC like it was going out of style. I have always done well holding and I am holding this time and, I'll bet it will turn around eventually (when the overhang clears) and we'll be out of here. If I were new to IDEC right now and saw all that good news and impending FDA meeting on C2B8, and saw this price, you can bet I would be a buyer.
I can wait this one out even if it doesn't immediately turn around.
I also don't think we need to explain the entire drop with the conversion and sales. Remember, SmithKline sold big into the last rally and the correction which we just went through (or partly through?) would certainly have an effect on a stock like IDEC which performed also dismally in last summer's correction.
I will be a buyer again at 17.
If I play the options, I will wait until this gets worse (I think it will tomorrow perhaps) and pick them as far out as possible as I usually do. I always try to pick up the options at times like these.
Oct 25s
BENNETT
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