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Biotech / Medical : Zonagen (zona) - good buy?

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To: Hank who wrote (4637)6/25/1998 11:59:00 PM
From: Quilty  Read Replies (1) of 7041
 
TIMBER!

I panicked and covered 500 shs last week at 26, when the overall market looked like it was heading back to Disneyland; but that is but a fraction of my position. I tried to short more on Monday---wasn't possible.

Very interesting visit I had with Oppenheimer analyst this week. Felt even better about the short, given his knowledge here. I see no letup in sight, although I'm not discounting a ridiculous week or so---maybe
a buyback or something silly---that changes the complexion a bit. I
would love to get another few thousand off in the mid-twenties.

Ah, the pleasures of gravity, the wake up call, the dull mind coming to its senses...I feel certain Walt Whitman, a great optimist, would nevertheless celebrate this ZONA decline just to savor the reality of the thing itself, the sheer human force of it, the folly of the longs and jubilant energy of the informed.

Quilty

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