IDPH--Positive preliminary results for pivotal trial of ID Message Board

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Biotech / Medical : IDPH--Positive preliminary results for pivotal trial of ID

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To: Rick Costantino who wrote (213)	12/10/1996 8:49:00 PM
From: I. Luttichuys	of 1762

Hello Rick, I think Brad was quite correct in his feeling that perhaps there was no surprise here on the trials and that the stock was bid up in anticipation of this positive release. It seems to be a case of buying on anticipation and selling on the news. It is interesting to note that the Semis have done the exact same thing today. Good news out and they all drop. I am beginning to wonder if the Greenspan take on things has affected the market such that investors now believe the "safe" thing to do is ride up companies expecting good news and then when it comes, get out when the getting out is good. Its like people don't want to get caught standing in one spot too long. Hate to see you sell on a low. I think it is very difficult to time this stuff. I can't tell you what is going to happen but I do know that statistically its best to hold assuming all is well with the company. It seems like you end up worrying even if you sell. It just becomes "did I sell too late/Am I buying in too early". Remember: if you try to time this thing, there are alot of people out there now talking about how good biotech is looking. Apparently you are in a good company, in an attractive industry, at a fair or low price, and in at a time of year which has historically been good. Some people, who own a stock they think will go down in the near term and don't want to sell it, will short a number of shares equal to what they own already. I guess this way, if the stock goes down and they close the short position, they can buy more shares of the stock with the profit and ones purchases would be at that low. This way they end up with more shares for the rise back up then they started with. If it goes up right from the time they start the short they may lose some of their shares. Anyway, just some chat (not recommending anything). I think you are in a stock here which will treat you very well. It turns out C2B8 may have a trial soon to test efficacy against CLL. All trials so far have concluded as expected or better. A milestone payment from Smith-Kline is expected on next earnings. CE9.1 has people dancing in the halls apparently. Remember that Merck has called an effective Arthritis therapy "the Holy Grail" of the pharmeceutical industry. The market for this drug alone will be quite large. Everything is A-OK and on-track. I can't recall now who said it but the phrase that comes to mind is "sell the company, not the stock". You don't care what the stock does, you only care what the company does and this company has done nothing but good as far as myself or anyone else here has seen. Me? I've lashed myself to the mainsail and the waves are coming over the deck but I'm holding fast. Have a good evening, BENNETT PS: I never was more successful at this stuff before than I am now and I think its all come down to being in the right company at the right time and holding no matter how ugly it gets.

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