The Stock for 1999(Polymedica)PLMD(Medical Supply Co.) Message Board

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Biotech / Medical : The Stock for 1999(Polymedica)PLMD(Medical Supply Co.)

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To: Sam who wrote (3393)	4/10/2002 9:27:18 PM
From: Apakhabar	Read Replies (2) of 3414

Have you been following the story out of NY with the NY Attn Gen going after Merrill Lynch? I saw the AG interviewed and he was serious about bringing criminal charges against MLCO. He specifically had evidence that stocks MLCO was touting as strong buys were, in the words of the Merrill analysts, "Dogs" and "a company that is only good for investment banking fees." It would be a funnier story if there weren't so many gullible people through the years who take what analysts say at face value instead of realizing that they are simply trying to sell something and certainly not give something like valuable information away for free... Regarding PLMD I'm surprised the volume has fallen so quickly. Because I know how daytraders are (I watched one guy on Monday trade 50,000 shares of PLMD after the halt ended) I suspect that most of the volume Monday and Tuesday was due to them buying rather than shorts covering (although surely there was some of that). If I could explain it better I would be a millionaire, but what invariably happens after news like this is that a large number of people think it's a no brainer that the squeeze will be on and the stock will go to 50, and then the market washes them out over the next few days. And when the traders finally get tired and exit their long positions, that's when the serious short covering begins. I do not think the stock will return to the 20s near term (assuming, as I think it correct, that the DOJ is going to drop the case or substantially drop it) but anything else is possible. I think you are right when you said that PLMD is going to reapply to the NYSE, and that is going to help the stock. I'm probably over cautious as far as taking a position (I traded it intraday day today, just testing the waters, made $400 and got out...) especially since I find it bullish that the volume has slowed down so considerably. I suspect the stock is going to look just a little more scary before it takes off again, could happen tomorrow...

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