XOMA. Bull or Bear? Message Board

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Biotech / Medical : XOMA. Bull or Bear?

XOMA 29.81

-4.2%

Dec 5 3:59 PM EST

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To: chirodoc who wrote (4201)	10/21/1997 7:17:00 AM
From: Robert K.	Read Replies (1) of 17367

Yes its one molecule, but several drugs, and many big indications. Product safety is the only killer, and thats a minimal conern now. Regarding earnings/valuations. That mostly BS. Thats for people who think they cant rationoalize the market and thus make money. Truth is earnings do not make stocks go up or down. Its only a factor. Out of like 10 factors affecting price, earning are about 4th. Most investors today think earnings go up and the price will follow. Untrue. Believe me, the market can and will cast off the earning valuation theory on a whim. When markets crack, you will here comments like. There is no reason for it to go down, or it doesnt make sense, or whatever. The market is totally irrational on a daily or monthly basis. I do think you can rationalize it over a long term basis though(years). Just some thoughts. On x stock direction is currentlu touch and go, but remember those 4 news items in 4 weeks. They coming..............bob

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