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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (5631)	3/1/2005 7:57:43 AM
From: Walkingshadow	Read Replies (2) of 8752

Yes, probably. I just like the way the stochastics roll along, makes for a nice trading stock as you know. Like others in the sector, CHIR has its gap problems too: 139.142.147.218 Monster gaps seem to be all the rage in the biotechs these days. BIIB and ELN just got destroyed yesterday as you know, down about 40 and 55% respectively in one day. And I saw an analysis of BIIB. Even with this news factored in, their revenues and EPS are really minimally affected---revs and EPS are projected to decrease 10% for sure both this year, and projections next year are virtually unchanged by the bad news. I don't usually play those kind of things, but it looks to me like we'll see a classic dead cat bounce today that will probably last a week or two. Several firms are out this morning in defense of BIIB and ELN by the way, and they are rather vocal. I think they are absolutely right, and I think the market will agree. Among other things, there is a very good chance the drug (Tysarbi) will come back to market, but no matter what, the selloff was completely overdone. ELN actually got an upgrade this morning from Smith Barney. T

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