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Biotech / Medical : CLZR:a potential 10 bagger?

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To: Bob Davis who wrote (50)7/20/1997 3:14:00 PM
From: Bob Davis   of 315
 
THE NAPEAGUE LETTER
July 20, 1997 - Bi-Weekly Update
For a Complete Copy - napeague.com

CANDELA CORPORATION - CLZR:
The Company has told me that it will release its year-end results during the
first week in August, although its 10-K Report will undoubtedly not be
available until later in September. As I have indicated earlier, since I
anticipate that the Company will report earnings shortfalls in the fourth
quarter of 1997 and possibly in the first two quarters of 1998, I am
planning to wait until it appears that the full impact of the CSCC "start-
up" costs will be over shortly, and then reinvest in CLZR if the stock can
be purchased advantageously. I currently do not hold CLZR in my
portfolio.

After approaching the $9.00 level in February, CLZR has been drifting
downwards on declining volume, with the exception of a "spike" upwards
on positive news releases in mid-May. Technical indicators do not appear
to indicate that this trend is about to reverse itself in the immediate future.
The stock's long-term chart appears to show support around the $5.00 level
and resistance around $7.50.

NOTICE:
This analysis is based on publicly-available information and discussions
with the various Company's managements, and is in no way warranted by
me as to accuracy or completeness. I do not guarantee to advise you as
to any change in this information. I currently am a stockholder in
certain of these Companies and may from time to time purchase or sell
these Company's securities. I otherwise have no affiliation with these
Companies and am not compensated by them in any way. If you have any
questions or constructive comments, please E-mail me at
rmdavis1@ix.netcom.com.
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