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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Howard Hoffman who wrote (990)6/12/1997 7:30:00 AM
From: I. Luttichuys   of 1762
 
Hello Howard, I know it's not much but I am also expecting a short term pop based only on my feeling for how the stock behaves based on my long experience in it. We know FDA facilities inspection is going on and that the news of IDEC's negotiating this hurdle successfully may very well be reflected in the stock.
Just based on the way it is trading lately I feel it is trying to move up and so I am still holding my July 25 calls, for what it's worth.
Also, pharmaceuticals are behaving unusually well lately IMHO. My holdings in larger pharms (MRK etc.) are showing surprising strength. The smaller issues I follow also look good (BTGC etc.). We know biotech is a bargain these days relative to fundamentals and the promise of the many therapeutics coming to approval these days. I suspect the market is beginning to come around to this fact. IMO we will soon see better action in biotech in general just around the corner.
BENNETT
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