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

To: Doc Bones who wrote (932)	4/13/2000 12:46:00 PM
From: RWReeves	Respond to of 52153

Weell, I may be out on a limb here but I think the worst is over. Fund redemptions and individual selling to pay the tax bill as well as margin calls should be behind us now. Looks like some targeted big block buying of quality stuff this morning, fund managers getting back in? Cash is what's in a lot of accounts, I imagine, not as much as folks would like, but money in a sailors pocket.... Some pretty amazing prices out there, VPHM included. CALP is selling at 80% off it's market highs, ABGX, MEDX too good of prospects to ignore. I did sellout of GLIA to buy VPHM (a zero sum game in the IRA)as I have to agree with many that GLIA management is damaging their otherwise excellent prospects. Some med device stuff was sold off in the rush to the exits that's bobbing around P/E's of 8-10 which could also attract some attention. And BT vendors will still get all the bucks raised in the next few years, these prospects look better not worse. So back in with the cash account from 80% cash to 20. RWR