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Biotech / Medical : SAFESKIN
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To: Mikey who wrote (263)4/6/1998 10:30:00 AM
From: David Rubin  Read Replies (1) of 828
 
Profit-taking is always a good thing, so I can relate to your decision to sell SFSK.

However, I think you would need to be insane to buy puts right now. SFSK is showing no signs of a top. The market itself is showing no signs of a top. In a market like this, investors are drooling over stocks like SFSK. With the huge run-up in sectors like Internet and drug stocks, other momentum stocks like SFSK will continue to go higher as investors try to find the next stock that can double in a few months.

At some point, SFSK will probably correct 15-20%, but I don't think it will be any time soon. Do yourself a favor and look into those other opportunities ... it's very dangerous to short stocks like SFSK in this type of market.

At this rate SFSK can get to $60 before it comes back to reality.
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