Theragenics (TGX) on the up and up Message Board

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Biotech / Medical : Theragenics (TGX) on the up and up

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To: Mikey who wrote (764)	3/21/1998 7:47:00 PM
From: Stephen M. DeMoss	Read Replies (1) of 1055

From my study of the market cycles, the Naz seems to lead the way. First to go up well, first to head down. Also, oils rally. With the price of oil going down, I wondered how this market could turn lower. For no reason I can see, oil stocks rallied, 3 days in a row. At the begining of the year, everyone I heard predicted a sideways to 10% up year. We are up on average 12% already! I see a correction (at least a mini one of 10%) coming very soon. Charts also show a big divergance between the 200 day moving average and where we are on the dow. I suspect short covering is a major part of this 'thrust' upward. Thrx is a great company with a great future. It, however, is trading at multiples that are not justified. In addition, it has rallied while its sister companies have lagged the general markets. It can be debated short term what the charts are saying on thrx (up or down). But with such a light float and high beta, in a correction, thrx can break down 10 points without blinking AND STILL BE OVERVALUED. Thoughts? Steve D.

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