Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: TATRADER who wrote (177)	1/5/1998 10:00:00 PM
From: vegetarian	Read Replies (1) of 18691

Mark looked at SNUS fundamentals some more: -the fundamentals are like any biotech (no forseeable earnings, cash flow negative, current ratio of 1 etc), but this stuff is discounted in the price; last Q they lost 60% less money than expected out of them -their bet is based on echogen which they have submitted for FDA approval -the bearish technicals (head and shoulder) on the stock is a result of investors being frustrated because of the delays in getting FDA approval -the FDA approval is expected early 1998 FWIW, although these beasts are unpredictable -Has about 51% institutional holding of its 8.5 M shares One needs to be really quick on the trigger with this one and the real short killer could be the FDA approval which could gap the stock up significantly; there is no obvious problem apparent other than the investor frustration that could tank the stock. So it seems like a pure technical play and the TA and FA are not in great sync at this time. But I could be wrong as always.

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