IPIC Message Board - Msg: 2382370

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Biotech / Medical : IPIC

IPIC 0.0001000

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Dec 18 4:00 PM EST

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To: Ted Downs who wrote (777)	10/7/1997 8:32:00 PM
From: Jack Ryan	of 1359

Ted, I have never claimed to be an expert. The advice to protect yourself with puts was given sincerely. I have been wrong many times about the direction in which stocks will move. In this case I am taking any rally (except if it goes over 20) to buy more puts. Yes, I don't like giving the option writers those premiums but the consequences of being wrong by just going short are too risky for me. Why do I think it is going to 6 or 7? I've already expressed my thoughts on this but I will give you a few recaps. 1st the trend is sharply down. 10 day, 90 day, 200 day moving average is down. Relative strength is down. Chart is extremely bearish with long term support down around 5. Almost all tech indicators negative. Fundamentals are under attack and very open to questioning. I like post 735 and 736 which analyze valuations bringing it down to around 10. I just think the 10 price is too rational and it will go lower. I used to be long. I may go long again at 6 or 7 or 20+. Am I sure? No. I wish you the best. Jack

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