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Biotech / Medical : Biotech Valuation

CRSP 56.98

+1.1%

Nov 5 3:59 PM EST

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To: Jibacoa who wrote (3322)	4/3/2001 2:17:53 PM
From: Biomaven	Read Replies (2) of 52153

It sure is hard to know when this slow-motion crash is going to end. We still have about a week or so of potential selling pressure for tax payments, and I'd suggest caution until that is out of the way. But watch out for fire-sales like yesterday's NOVN. Personally, over the last week or so I've upped my short in QQQ, but bought a little MSFT (its biggest component) because I think the next OS upgrade cycle is for real. (Win98 2nd edition and WIN ME certainly weren't.) Also added to my BBH short some. Right now my positions are about 65% long (virtually all biotechs), 35% cash or treasuries and about 10% short a combination of the QQQ and BBH. Nice looking result on daptomycin by CBST today, but the market doesn't seem to care. :( Peter

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