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Biotech / Medical : HBOC...Buy in here?
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To: Kevin Podsiadlik who wrote (219)8/9/1998 7:58:00 PM
From: Rarebird  Read Replies (2) of 341
 
I think there is going to be a lot more heartache here as this Bear Market unfolds over the next few months. I forsee HBOC dropping about 50% from its high of $38.375. That's the bad news. The good news is that this is still a great company and I feel we will be at substantially new highs by this time next year.
Why the drop? Investors are questioning whether HBOC can maintain its rapid growth. I saw this happen with CSCO 1.5-2 years ago when its projected growth rate fell from 53% to 33%. The stock was sliced almost in half. I remember buying at $45.5 and holding on for a real nice profit. I think the same thing will happen to HBOC, setting up a great buying opportunity. As the share price drops, just remember one thing: if this company was great a month ago, it is still great today. All the great stocks, including Intel, Microsoft, Coke, Phillip Morris, and Cisco went through this phase and came out of it substantially higher. I bought at $27.5 a few weeks ago ( small position ) and will experience this Bear Market through HBOC. My only other long is MO ( huge position ). I primarily short stocks, but I wouldn't dare short HBOC. I have to much respect for its management expertise and its business. Industry Leaders like HBOC always manage to survive and maintain strong growth. IMHO ride out the decline and buy more and more as it falls. This company is a Winner!

PS. I say Bear Market here because decliners have beat out advancers by a 2 to 1 margin over a two week period. This does not happen in a Bull Market, along with 92% of NYSE stocks trading below its 200 day moving averages.
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