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

To: jeffbas who wrote (829)	3/15/2000 6:30:00 PM
From: Mike McFarland	Respond to of 52153

Perhaps--if a person is just going to look at the sector as a whole--we know there is a good chunk of money out there just sloshes in and out of the idea of the week...well biotech sure isn't the hot idea for this past week. The last couple months have been the easy money, and for those who snagged some of the action--great, I know I did (although as of today the market has taken back a third of it). Now for the rest of the year, except for a few sector spurts, I think you are going to have to have your money in the right stocks. I'll be the first to admit that I am not especially confident that I have the skill to choose the right biotechs to own--but I think I am getting the hang of it, and I'd be surprised and dissappointed if the biotechs that I do own do not perform well in the months ahead--based on event-driven moves, not merely sector strength. I see from the next post that CEGE is not correctly valued now--cheaper than cheap. How can this be biotech bears? I thought now that the trend is down that everything is automatically overvalued? huh? ---- banter... Well, we will just have to see how this plays out. I did see that one of my companies shares got upgraded from buy to strong buy today, I'm encouraged. Have to say though, I am awfully close to a mental stop loss on my account, and that is terribly nerve- wracking. I'd intended to quit my job and let interest on my account replace my income, then head off back to shool or something. And a week ago it looked like I was going to get a pay raise when I quit, not anymore, what a haircut. One more lousy day for biotech and there is no way the wife is going to let me walk away from the job.