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Biotech / Medical : Biochem Pharma (BCHE)

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To: JDN who wrote (690)12/29/1999 11:06:00 AM
From: tuck  Read Replies (1) of 783
 
JDN,

I got called out of this stock this month, but I bought back in on the continued weakness. I now have a bigger position at ~20 1/2. My plan is to write January 22 1/2 calls in the next week. Then I'll hold to see what the end of January news is for BCHE. I don't know if you dabble in options, but it seems like a good way to lower your average cost to the current market price without much likelihood of sacrificing the coming upside, since the news will come out well after expiration.

FWIW, The folks at the IMGN thread were hoping BCHE would announce an IND involving IMGN's technology at the recent conferences. If their expectations can be taken as a fair proxy for the Street's, that might explain why BCHE is still weak, since no such announcements were made.

Cheers, Tuck
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