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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Roger A. Babb who wrote (4625)8/11/1997 1:49:00 PM
From: Andrew Hunter   of 9285
 
CEPH has had a little run up today thanks to the impending FDA decision regarding their drug Myotrophin. The FDA review panel previously advised against approval with a 6-3 vote. Apparently the belief of speculators is that the FDA will bow to public pressure (many desperate people want this drug, although it appears to have no beneficial effects) and approve it despite the review panels' recommendation. I find this scenario highly unlikely, and see this as an easy 24 hour 10 - 20% gain on the short side.

AND looks like a great short, but the run up mystifies and scares me.
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