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Biotech / Medical : Paracelsian Inc (PRLN)
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To: Jonathan Schonsheck who wrote (3869)8/23/1998 12:39:00 PM
From: Hank  Read Replies (1) of 4342
 
Jonathan,

What's happening is real simple- bear market. It has nothing to do with PRLN. I expect the market to get worse from here before it gets better. With that in mind, don't be too surprised to see PRLN drop much lower. In fact, if you look at the chart of PRLN, there is a significant gap up at around 25 cents that was never filled. Conventional trading wisdom dictates that gaps eventually get filled and, in my experience, this is usually true. If that is so, we could see PRLN drop to that level again in the wake of a serious market shake out over the next two months. With stocks like PRLN, it doesn't take much selling to make the price drop significantly, as you've already noted. I am waiting and watching because I would love the chance to pick up about 20K shares at 25 cents.

Hank
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