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Biotech / Medical : Laser Vision Centers, Inc. (NASDAQ: LVCI) -- Ignore unavailable to you. Want to Upgrade?

To: Robert G. Harrell who wrote (291)	9/18/1999 2:18:00 PM
From: W Shakespeare	Read Replies (1) \| Respond to of 413

LVCI stock is 67% owned by institutions. When the stock began to drop, the herd mentality took over and institutional holders begin to trip over each other getting to the exit. This stampede scared individual investors who figured that the big boys knew something that they did not. What resulted is a 50% drop in the stock price when nothing fundamental had changed for the outlook of the company. I think it is very premature to say that the stock has bottomed out. The laser provider stocks are in a bear market. This means that good news does not move the stock price higher. In fact, on Friday, very good news from the company could not stop the stock price from falling over 11%. It is impossible to determine when or where the stock will bottom since it is not falling for rational reasons (other than the circular "it is falling because it is falling"). We could see several more sharp drops followed by modest recoveries. In addition, it appears that the general market may be headed for a sharp correction, which could further erode the stock's price. Those investors wishing to establish a long-term position are looking at a very attractive entry point for the stock at this time. It will be necessary, however, to have a long-term horizon in order to ride out the negativity that has currently enveloped the stock and industry.