Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: LzzrdKing who wrote (4512)	2/18/1998 8:58:00 AM
From: Jess Beltz	Read Replies (2) of 7396

At the open today (orders already queued up): Will sell some ESON (take a little money off of the table around $10 after buying in 2 weeks ago at $8.25) post earnings. Am opening a position in DMMC to try and catch the reversal Am opening a position in PLC. Here's the story (quickly.) They tried to get FDA approval for a cardiac laser procedure (not as invasive as ripping open a chest with a rib-splitter) back on July 27th, and got shot down by the FDA. They have another date with them in about 7-8 weeks to provide new data (larger numbers for their trials.) The stock has already begun to run-up a bit in anticipation of approval. I checked over the weekend and found a recent Schedule 13G/A (reported last week by Franklin I believe) for about 500,000 shares (if I remember right.) I'm going to play this one to catch whatever runup takes place BEFORE the scheduled FDA meeting, but will almost certainly bail on it before the actual meeting. (Nothing worse than being shot down in flames by the FDA.. I lost $25,000 on Depotech and won't make that mistake again.) I actually am opening small positions in both. jess.

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