Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Steve Fancy who wrote (17594)	3/2/1999 4:43:00 PM
From: Tom Hua	Read Replies (1) of 18691

Steve, PDX has dropped quite a bit despite the lack of institutional selling (I take your words for it). I think institutions are waiting for the final verdict. When the truth comes out and if there're more problems than the company led investors to believe, then the floodgate will really open. The way the company handled the situation sounds fishy to me. On Feb 10 they said they would beat estimates and the audit would have no material impact; Two days later they changed the story 180 degrees. The following day, they said the split was still on, 6 days later they rescinded the split. And then there's that infamous secret meeting where the VP/Medical Affairs went on to explain the company procedures for coding, called docs who bill conservatively "wimps". Why didn't insiders dump shares before this disaster if they knew there were problems? Perhaps they didn't think there was anything wrong with their creative accounting and alleged improper billing method. The truth will come out, and I think the other shoe will drop. Regards, Tom

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