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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Biotech Jim who wrote (8090)	7/10/2000 11:42:22 PM
From: Vector1	Read Replies (2) \| Respond to of 9719

Thanks Jim, although I do not we do not do options in the portfolio I am reccomending selling out of the money August covered calls for some of the high flyers. SEPR, CELG, MLNM and PDLI. This gives you a nice additional return and some downside protection. I like these stock for the long term so if they made a big move in August (I doubt it) I would buy back the calls at a loss rather than being forced to sell and take the gain. Most of the companies in the portfolio are names I beleive in long term and intend to hold for years. That is IMO opinion how you create wealth through stocks. i still like GLIA and think the merger with GLFD is a good one. CGPI has a drug that works but growth of periostat has slowed and the drug is being blacklisted by perios who are looking out for their pocketbooks and not patient interest. It is a shame. One poor performer that you did not mention is CLTR. I probably have been too stubborn for my own good on this one. However, I beleive in the molecule and one of my investing principles is that the better molecule wins. That theory is being tested. I will probably continue to lighten positions in the portfolio and wait to add until another inevitable downturn. In revolutions there are always misteps along the way. When the price becomes reasonable I would like to add Abgenix. I probably made a mistake selling NBIX and will probably eat sh-t and buy it back at a higher price than I sold it. INCY, MLNM, CELG and VRTX have the potential to be leaders of the revolution. V1- who is a terrible speller. My apologies.