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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: Vector1 who wrote (6120)	12/10/1998 1:06:00 PM
From: Rocketman	Read Replies (2) of 9719

Good lesson, but I don't think any of us thought that the Bear of '98 would go to such depths. The first warning we got from your gut was when we were still at about $130K equity, and we should have cleaned house right then and there, and gone short on a lot of our long positions, but we didn't (want to believe it, we are just too damn optimistic about biotech long term and it colors our short term actions) and we rode it down to the high $30K range. Once the big slide started, it was hard to accept it would continue, but it did. We sure have seen a nice recovery since, and I think that it hasn't topped yet. Plus while the biotechs in general have been going up we have made some great trading plays on market overreaction, shorting ENMD & GERN, long on AMLN, etc... I still want to get into INHL and AVIR yet. Rman

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