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Biotech / Medical : The thread of life

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To: scaram(o)uche who wrote (263)	2/7/2002 12:53:05 PM
From: Mike McFarland	of 1336

A rough week for sure, it seems the market gets less rational overnight. I opened up the ol' level II and pulled up ELN. It is fun to pretend you can tell which way it will go, but I am pretty sure L2 is useless--important trades flash by and are gone in an instant. Treading water around $13.70 and the volume has really lightened up. To me, Elan really represents the core of the more speculative part of the biotech sector--the deals are a way for eln to test the water. The TGEN Emerald gene thing is an example--no vrtx/absc for sure, but that is precisely why I've followed Elan and want to invest in them. But this market has a way of leaving a person dazed, confused. It is clear to me that I am not going to be a great trader yet, maybe after I follow the sector for another decade... and it would help to study business and economics...I'm terribly ignorant there... It does not help that I really cannot evaluate "tech value" in biotech. That is always the tricky problem isn't it?

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