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Biotech / Medical : Paracelsian Inc (PRLN)
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To: richard davis who wrote (517)9/18/1996 5:33:00 PM
From: Richard Mazzarella   of 4342
 
Richard, I am still long PRLN, but now at a more reasonable level. I got carried away during the phone conference and bought as much as I as I could find money for. It's a good thing that PRLN was not marginable. In hindsight (always 20/20), I should have never extended myself with so much PRLN. I guess I just got caught up in the moment. I usually try to keep a diversified portfolio and wanted to return to that posture since it was becoming clear that PRLN wasn't going to explode overnight. When the PR problems started conflicting with what I had thought I understood, I finally sold that excess at a loss. I don't mind taking a loss when it's because of a mistake. I buy the story and when the story changes or my price target is reached, I sell. Nobody should take my selling as a statement about the basic technology of PRLN. I don't expect the price of PRLN to go lower than $3, but I also don't expect an explosive run for awhile now either. I took that money and put it into GPGI (high risk) and TRIBY (low risk). Paul and I have talked about EMIS on this thread before. There has been a good run on that stock lately, but it pulled back some. Analysts expect it to be $26 in 6 months (it's $14 now). I may buy some of that soon. When I see PRLN put themselves in a more marketable position I will buy more PRLN again. That includes getting their PR fixed.
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