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Biotech / Medical : Coherent (COHR) : Anyone else holding?
COHR 166.69+7.9%Nov 10 3:59 PM EST

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To: JDN who wrote (252)10/15/1997 9:27:00 PM
From: Thomas J Pittman   of 788
 
Although I am surprised by todays announcements, I am generally
in agreement with your statement about the time horizon, although
I think the market will have more of a memory and it might be
12+ months before investors are willing to come back to the degree
required to make new highs.

What I am trying to figure out is this: 'what did we learn'.
Does this change the picture? Can Coherent deliver growth
over time? Is the risk reward ratio skewed downward by the
new information more than it was several months ago when
the share prices were in a similar range?

Over the next few days, it strikes me that those are some
of the key questions since I get the feeling that most of
us here are long-termers.

I have to admit, I have never had a stock do this in such
a short time, and I wondered how I would react. I did pull
out my SSG, but doing so reminded me that I had put a lot
of work into it and that my numbers remain valid in terms
of projected highs and lows for both earnings and prices.
So I stuck it back in my briefcase and watched the carnage
take place.

Sort of weird...like watching an accident in slow motion.
I wish I had some cash, but the wife didn't take it quite
as well and she is not hearing of anymore purchases for
awhile.

J
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