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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Larry Liebman who wrote (515)	1/20/2000 12:59:00 AM
From: enervestor	Read Replies (1) \| Respond to of 52153

Hi guys! Just discovered this thread thanks to George. I've been invested in biotech for several years. Until about six months ago, I owned way too much biotech, now I don't own nearly enough! I get "sticker shock" now every time I look at some of the stocks I had been putting off buying, waiting until they were further along in trials. Since they hadn't done anything but go down for two years, why get in a hurry about buying them? Now the question is whether this move is for real and how long will it last? I can't believe that all this new money investing in biotech has experienced the frustrations that go with biotech investing and wonder how much will still be around for the long haul. Still I kick myself every day now for not being smart enough to see this coming in time to get all my favorites when they were dirt cheap.

To: Larry Liebman who wrote (515)	1/20/2000 8:45:00 AM
From: Jim Oravetz	Respond to of 52153

AVI BioPharma Inc. (AVII) 12 1/4 +2 5/32: Interest in biotechnology stocks remains very strong as these issues continue to provide day traders with new opportunities for a quick profit. Any time a press release is issued with regards to new discoveries or studies, you can bet that day traders will quickly discover the stocks that are most likely impacted by the results and ride them higher..... .....While the company certainly has reason to cheer about, the stock appears a bit overdone, considering the appreciation in the past week alone and the fact that Cruttenden Roth only had a 12-month price target of $11. Still, as long as traders remain eager to chase stocks in the biotech area, moves like the one seen in this issue are likely to continue until the craze passes, regardless of what the company's fundamentals may otherwise suggest. This traders game of trying to garner profits is also fueling the wild swings in biotech issues. Look at the action on VPHM this week, and CRGN ($95-130->93 in a day)last week. Jim