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

To: Biomaven who wrote (3225)	3/28/2001 8:35:52 PM
From: Mark Bong	Respond to of 52153

Peter, the TV talking heads still seem fixated on technology, and in spite of the overwhelming evidence that most high tech is now a cyclical industry with a good future, it seems too early for many to accept. Kudos to Joe Kernan who talked up biotechnology a lot today to try to balance the bad telecommunications and internet news. I still think that the cloud over the stock market will also hang over biotech until some news event triggers a run on biotech or until the market starts to look forward to more positive economic times. This will probably take a while. I still think that Greenspan is behind the curve, but in all fairness, if there is major tax cut, it does alter his plan for interest rate reductions. He is afraid that both the tax cut and the interest rate cuts will spur inflation and an overheated economy next year. With current and projected high-energy prices, he may finally be persuaded to more aggressively in spite of tax cuts. Personally, I would not mind a retest of the biotech lows in about a month so I could buy back my tax loss sales at or below the sales price last week. I need about another 24 or 25 days to avoid wash sales rules. I focus on biotech, but if CISCO dips below 10 in the next two months, I might bite a little! In any event, lets hope the economy recovers sooner rather than later!

To: Biomaven who wrote (3225)	3/28/2001 11:31:47 PM
From: Jibacoa	Read Replies (1) \| Respond to of 52153

<<surprised by yesterday's rally>> To me the "rally" started on 3/23 when the price was able to get above the average lines.<g> siliconinvestor.com But you could expect a "reversal" as long as the DOW could not close above the 10,000 (where it had been previously stopped on March 13 & 19-20) Now the thing to watch is wether it can hold above 9,620 (if it doesn't, we can expect a drop at least like it had from 3/20 to 3/22,after the price dropped below the averages) Of MRL's "Biotech Holdrs" there were 7 out of 20 that managed to close on the plus side: holdrs.com Bernard