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Biotech / Medical : QLT PhotoTherapeutics (QLTI)

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To: Ian@SI who wrote (1026)10/5/2000 4:25:13 AM
From: Garth Richmond  Read Replies (1) of 1321
 
Hi Ian,
Thanks for the information supply.
I too was at a loss as to what the cause of the drop. Spoke with Ed (my Dad) and then saw the CBC Newsworld gaf myself. Good grief!

QLT was already one of my largest holdings, but I took the plunge and bought short term calls today. I almost never buy calls as they are usually overpriced, (and I hate made markets), but this was just too good to pass up. I figure there could well be a snap back tomorrow (after hours trading seemed to support that), and the earnings numbers will be out soon, which I think will renew optimism. I also considered selling puts but didn't (could use them to pay for my calls ;-)

Luckily the USA, where most of the volume is, do not see CBC Newsworld. So I wonder how much effect it will have. Mind you, there are a lot of investors these days who think due diligence is reading *or watching) the news headlines and looking at the 1-year chart. There may be some knee-jerk selling tomorrow.

Good luck,
Garth.
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