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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: lindend who wrote (1644)	6/29/1999 2:51:00 PM
From: Bill Wexler	Respond to of 10293

I don't think it is a good time to reshort KERA...not yet. KERA is a problematic short because there is no whiff of scam. My first short of the company (immediately after FDA approval) was based on what I believed (and still do believe) to be a grossly overestimated potential market for this procedure. The shares have been pumped recently because the company is getting more surgeons interested than it anticipated and it is also predicting higher revs coming out of the gate. The story has to be broken before the stock can be shorted again, otherwise it is too dangerous. I think that consumers will continue opting for laser surgery vs. this method, but you now have institutional investors coming in who may be willing to wait 3 or 4 quarters for the results to come in. Better to put this one on the back burner for now.