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Biotech / Medical : GelTex Pharmaceuticals (GELX)
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To: EACarl who wrote (79)9/13/1998 3:00:00 AM
From: Robert L. Ray  Read Replies (1) of 127
 
Ya I know what you mean about not being able to resist short term trading a stock such as this. I do it myself from time to time on other stocks. But the real money I've made in the market has been on doubles and triples. At the moment I'm taking the long term approach with Geltex. I'm positive I'll miss some great trading opportunities along the way and have some temporary regrets for not short term trading it. If the *main* reason for this past weeks gain was just the Businessweek article then I'd say it might go down a bit early in the coming week. But there's no way of telling for sure of course.

At any rate so long as Geltex's fundamentals are in place and there's no unexpected bad news it's the main stock I've chosen for the long term. I've held for 3 months now and believe it or not that's already longer than I average holding a stock. I also got some at 15 which brought my cost basis down to 21. What sometimes winds up happening with me is I'll take some quick profits in a stock I've got a lot of faith in and put the money into something else that I don't have quite as good a grasp of and the new stock will tank while the original one takes off and runs away from me. That of course is one of the risks of short term trading. You have to be right twice. So I'm determined to not let that happen to me with Geltex.

Best of luck with your strategy and here's hoping for a skinny, low cholesterol future. Made possible by the good folks at Geltex of course:)

As an aside, Jim McCamet will be on squawk box Monday morning. Seriously doubt he mentions Geltex though since I don't beleive he ever has.
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