ONXX Message Board - Msg: 14153204

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Biotech / Medical : ONXX

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To: Fundamentls who wrote (401)	8/2/2000 6:20:49 PM
From: Elmer	Read Replies (1) of 810

I won't disagree that stocks get way overbought on announcement like ONXX had yesterday. I've invested in biotech for years and seen it happen time and again. The reason I think it's different this time for ONXX is that it started from a base of extraordinarily poor long-term performance. Pull a chart going back to the middle of 1996. As of the close yesterday, this stock was at about the same price it saw at the end of its first month of trading in May 1996. Since it went public, we have had the sweet spot in this "mother of all bull markets." So, it hasn't participated and the rapid appreciation yesterday doesn't create a valuation issue that are common in other stock's run up. The other reason that it is different was a quote by a cancer specialist in one of yesterday's press releases. He said that the results were the most promising he had seen in cancer therapies in the last ten years. So people who know will increasingly be accumulating the stock. I sure am.

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