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Biotech / Medical : Biotech Short Candidates
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To: Spekulatius who wrote (286)12/30/2002 11:16:03 AM
From: tuck  Read Replies (1) of 897
 
BSCP closes it GMXX position at $5.80, the current ask. Almost 40% in less than three months. But in reality, I probably could not have made this trade for reasons already discussed. I will leave it in the WatchList just to see how this turns out.

Although '03 may be better for biotechs than the past couple of years, I don't see the market as a whole doing especially well. Biotechs may outperform their recent past, and may even outperform the market, but I still think shorting opportunities will be abundant.

I briefly shorted CHIR in my PA. I have closed that position for a reasonable gain, but the target for BSCP is $36.

I see at least one law firm is soliciting plaintiffs who got lymphoma from Enbrel (and Remicade), the anti TNF drug from IMNX, now AMGN. Although AMGN hit my targets, it did so on positive regulatory news, and I thought it could run into the high $50s. Still watching.

Cheers, Tuck
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