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Strategies & Market Trends : Want to make $1000 a week trading.....I'm going to try!!!
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To: john Kurisko who wrote (719)2/12/1998 9:27:00 AM
From: Double Dipper  Read Replies (1) of 1100
 
FYI,

If you haven't fooled with FDA approval pending stocks - watch out!!!

I got smoked pretty bad not once but twice in a row last year. One
very severely on a can't miss approval called DEPO. But, the
FDA declined this sure thing and whammo, six months worth of profits
in trading went by by overnight. The news of non approval was
released after the market closed and when it opened the next morning
it opened down 10 points. The after hours trading people institutions
were able to dump their stock, leaving individual investors holding
the bag. I know of one very wealthy person, I believe he is a doctor
or in the medical field who almost went bankrupt because of his/her
extensive holdings. SO, watch the risk reward of these biotechs
very close and if you can lose more than gain, well - watch yourselves
and determine if its worth it.

My two cents for what its worth.

P.S. I still trade in the biotechs but not aggressively. The company
can be great and have good management, but the FDA is the one with the
power, not the company, and when they sit in judgement, they don't
care about a stockholders position in the company. And, that is the
way it should be.
Kevin
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