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Biotech / Medical : PLSIA (Premier Laser Systems)
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To: Daniel Smith who wrote (1080)8/19/1997 8:00:00 PM
From: Jon Tara   of 1773
 
Daniel, I do not think that PLSIA will move up significantly until the warrants are out of the way.

I have seen this time and time again - stocks rarely move up with warrant overhang. It is quite common to have some "event" or "news" occur that will pop the stock up to the point where the warrants can be retired, and then the stock just dies until the warrants are taken care of. It can be quite ugly, since the initial pop always seems to be dramatic.

Look at USDL a year or so back for a good example.

I made the mistake of not paying attention to the past on this one. But this reinforces it - I will *never* buy a stock that pops into warrant redemption territory again, because the followup action is soooo predictable.

By the way, Louis, I did sell my PLSIZs before the big drop, when I sold everything. (the day before the market plunged - I made a lucky call in Roger's shorting thread...) This time I guess we do not get the "Louie effect". :)

(Louis, I am surprised that you still get angry, after all the stocks we have been through together. You know the pattern is that as soon as you sell, the stock moves up. But you get the last laugh on this one - you were finally right on your sell timing! :) I got lucky and made a market call that got me out anyway.)

As soon as the warrants are all gone, buy this stock, if the story is still intact by then.
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