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

To: Tom Hua who wrote (397)	8/2/2000 5:27:48 PM
From: Elmer	Respond to of 810

Tom, Sorry if I wasn't clear. I was just noting the similarities between the Avanex yahoo board after the Gilder recommendation and the ONXX yahoo board. The similarity was simply that in both cases the shorts were posting at a very high rate. I'm curious about why, among over 10,000 listed stocks, you would choose one that may have a viable treatment for cancer and a miniscule market capitalization? Is it just because it was up a lot yesterday?

To: Tom Hua who wrote (397)	8/2/2000 5:44:05 PM
From: Elmer	Read Replies (1) \| Respond to of 810

<I doubt there were too many true investors buying at these inflated levels.> I guess that's the real question. The publicity may have brought real investors into the stock. I'm hanging in regardless of the stock's moves for one simple reason. The rewards are tremendous if the drug is successful in Phase III trials. If you want to see what I mean, pull a five year chart on Medimmune (MEDI) and IDEC (IDPH). They went up an order of magnitude or more from the successful completion and commercialization of drugs with smaller patient markets. I hope you can cover this week and make a profit. But long-term this is the last stock I would short, if only because a couple institutions could come in and knock out 50% of the float and double the price.