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Biotech / Medical : Chiron

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To: vinod Khurana who wrote (12)	5/17/1996 2:55:00 PM
From: vinod Khurana	of 23

Chiron may be worth keeping an eye on based on these technical facts: 1) The stock first broke (on the downside) the 200 day moving average in late March. Since then, it has attempted a comeback at least twice (crossing the 200 MA by a few points). The third attempt seems to be on the horizon. Each time the attempt is made, the stock passes the $100 level and then drops to the $90 - $95 level. 2) The drop to the $95 level represents just over a 20% drop since it reached a high on Mar 6th, 1996 ($119 1/4). The news in the press has been generally neutral and the drop can not be explained by the company (see news articles on StockTalk). 3) There are June/July 125 call options trading on this stock indicating that the professionals expect it to trade in the $90 - $125 level over the coming weeks. We should expect a rebound to the $110 level by July end if not sooner. I have taken a very small position (2 contracts) in the June 100 call options this morning at $4 1/8. I will add further once it is determined that the stock is on the uptrend. I am not expecting the stock to go as high as $125 but one can expect a 50% increase in the value of the June 100 call options as the stock approaches $105. Good luck in your investments(s). V.K

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