Oscient Pharmaceuticals Corp. (OSCI) Message Board

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Biotech / Medical : Oscient Pharmaceuticals Corp. (OSCI)

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To: Tara Cobble who started this subject	5/29/2001 10:02:48 PM
From: agoro	of 1154

Buy this Pullback for 50%+ gain I just don't buy the bearish thesis on this stock. This stock averages under 100 thousand shares a day in volume in May, then doubles in 4 days on peak volume of 18 million (180 times normal). Then it drops 10% on a closing basis with volume plumetting to 2 million. This stock is consolidating it's gains, it's not a short candidate. I'm looking to initiate a long position soon once a bottom gets put in. The last time the stock hit 12 million shares on the upside, it surged from 10 to 75 in 3 months! While I think it's unrealistic to expect a repeat of this magnitude, I don't think the brief move from 8 to 16 is the last of it. I'm looking for a minimum of 20 from the next move. If you want another example of the move I'm anticipating, see Geron (GERN) in December 99. The length of the consolidation and the depth of the decline will depend on what the biotech index does. My guess is the consolidation will not be nearly as deep as Geron's was. I expect the bottom later this week or next. I want to buy a upside breakout visible on say a 10 day 10-minute intraday chart. Until proven otherwise GENE is in a downtrend channel channel with peaks at 13.5, 13 on the resistence line and 12.75 and 12.4 troughs on support. This seems a really shallow consolidation though and volume is drying up perfectly to facilitate another run for new highs, however it seems too soon for the upside burst to happen tomorrow. Until then expect a decreasing volume downtrend. Next wait for it to go neutral this week (no lower lows on the intraday)and then an upside break to buy for the run to around 20.

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