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To: JSB who wrote (22150)10/25/2000 6:07:37 PM
From: LondoRespond to of 118717
 
Problem with shorting biotechs is that the only thing which can really get a biotech company's stock down is the failure of a clinical trial, or the FDA giving a company a non-approval letter..

And whenever one of these events do occur, it is obvious to everybody that it's a sign that the individual company is at fault, and not the whole sector. So companies are completely insulated from each other (unless of course if they are working to cure the same problem).

Just ask the guys that were short on Affymetrix today..