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Biotech / Medical : Lorus Therapeutics Inc.
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To: Brad who wrote (105)4/16/1998 4:35:00 PM
From: Carter Berezay  Read Replies (2) of 279
 
Brad, I'm back. My definition of long term is 3 - 6 months if there's no action - up or down. If nothing happens I will try again with another stock in 3 months.

I buy only one stock at a time. I manage 3 separate accounts. The first 2 are 100% Micrologix Biotech (MBI/TSE). The third account is now 100% IMT.

I also use stop-lossess of 22-25% on every stock I buy. My stop is now 53 cents on IMT. Unlike yourself I would have been out of IMT long ago because of my stop-loss rule.

I think 70 cents is the bottom for this stock. I would say a lot of investors are holding IMT at a loss right now and on a price runup will dump their stock whenever their breakeven is hit.

Imutec is an "event-stock." It has an event that must happen which are very positive Phase I/Phase II trials that set the market and volumes on fire.

Charting is useless for this kind of stock. I use it to find a bottom that investors seem to be supporting until the "event" happens. Charts can't predict what a stock will rise to, it all depends on the "event."

Okay, 65 cents may be that bottom I was looking for!!!!!

Since your original investment has been halved my advice is for you to hang in there until the "event" happens. If it's very positive you are going to be well rewarded for your patience.

Brad, it is very lonely when you're right. Maybe that's why no one talks to us on this thread.

Hang in there.

Carter B.
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