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Strategies & Market Trends : Roger's 1998 Short Picks
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To: TATRADER who wrote (429)1/8/1998 6:44:00 PM
From: space cadet  Read Replies (1) of 18691
 
Mark thanks for some great looking picks. Both org and atli technically look like they want to collapse big time, and they both look extremely overvalued fundamentally on top of everything else. My only hesitation is this:
"Dec. 18, 1997, Organogenesis Inc. (AMEX:ORG - news) and the Novartis Pharma AG unit of Novartis AG [OTC BB:NVTSY - news] reported that the
pre-market approval application for ORG's Apligraf (Graftskin) product is scheduled to be reviewed by the General and Plastic Surgery Devices Panel of the Food
and Drug Administration on January 29."

If they get the go-ahead then org will definitely fly. Are you worried about this, or do you plan on being out much before Jan 29? I think a lot of shareholders may be holding on despite the terrible looking chart, thinking that Jan 29 will save them. Of course, if the report is negative then org is probably in the single digits. But I'm new to the biotech game (except for good old vvus) and would like to hear your (and anyone else's) opinion, if you have one.

Incidentally adpt is getting creamed. I had puts on it in '97 and they expired worthless. I'm going to dig out my long list of losing puts last year and maybe start reshorting those turkeys. They were all ridiculously overvalued last year but that didn't stop them from getting even more ridiculously valued. Well reality bites finally in '98 and maybe I can get some of my not-hard-earned money back this year. Another one I remember losing on last year was baanf.
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