Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 177.52

+0.7%

3:59 PM EST

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To: russn who wrote (9460)	2/19/1999 11:30:00 PM
From: Trader J	Read Replies (2) of 56535

Russn: ASCT - I am waiting until it finds bottom before even looking at this issue again. They have two drugs up for FDA approval, and I believe they were up in the spring. As far as the whole ASCT saga, I am glad it is over. Not happy with the result, obviously ..... but that is always the risk. Anyone buying here would need to be willing to tuck this away for awhile in my opinion. This issue came from just under 3, and with the rumor out of the way, and no guarantee of a buyout, it may head back there. My feeling is that it will base in the mid to low 3s....the deal will add some support. But there will still be some hands holding, probably still some from this thread that will eventually move on when the volume dries up and the price stagnates. No doubt for some, this will be an open, festering wound for some time. After the initial sell off, I even broke one of my own rules and exceeded my normal trading lot size to take advantage of what I thought was an overreaction.....bad mistake, that cost me $9000. But we learn and move on. Downside here is minimal but I see nothing to add strength until the FDA reviews are up. Tj

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