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Biotech / Medical : 2000-Year of the Biotechs! -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (333)	2/19/2000 10:43:00 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 1142

My guess is that everything is going to get whacked, but biotech is doing quite well by comparision--many of the biotechs groups held up well on Friday and even showed a gain: techstocks.com With a lot of new money flowing into the sector, I think we are in good shape--not enough product to go around, or at least I keep reading that in business articles. Hopefully there wont be a huge glut of IPOs and secondaries--but consider how much Internet the market was able to sop up these past couple years. If it wasn't for Greenspan and these rate rises, I'd say biotech is going to be a no brainer. Not sure what the Fed adds to this, and after I was done counting my gains for the day on Friday, I was a little surprised by just how bad the market had done--had no idea, who would have thought biotech would provide such good shelter. We may be getting to the point where one has to be in the right stocks and be thinking about where your biotechs are going to be in five years rather than five days. I went through my account and took measures that will prevent me from getting shook out of any of my positions--the dreaded cash cushion. Limits the downside, but can probably kiss triple digit gains goodbye. You know, if we all just ignored that Greenspan fella, we could keep the party going. The Inets had it so easy last year, lucky bastards.