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Biotech / Medical : Biotransplant(BTRN) -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (954)	7/26/2001 7:44:32 AM
From: sam	Read Replies (1) \| Respond to of 1475

Off topic. "Handwriting was on the wall when this one started tanking from the $15 level.." I don't know much about AMLN, but hasn't everything in biotech gotten hit quite hard recently? Couple days ago I ran across some traders claiming ABGX (which I own) was very weak, that bad news was therefore on the way (it was -- they missed estimates) and therefore headed to 20. I then came across that rec in a few shortseller rags I follow. So far, bad advise. Though they still may be right. But I find the sector trades together and that the btk is a good place to get a read on how the stocks will be trading. I also find that bad news is quite often a great time to enter positions. As a position trade, I often load up on FDA misses. You'd be surprised how many fairly quick triples I've gotten on those. I also sell FDA approvals. Learned this lesson watching Agouron get completely strangled by Julian Robertson immediately after Viracept got approved (if I recall correctly, Agouron lost most of its market value while its drug started taking significant market share from the existing pis). In any event, I honestly can't understand why anyone would take heavy short positions in biotechs at this time. Personally, I feel we are closer to the development of a bubble-type situation than a crash. That's why I am closely following Avalon Research's calls now (like their "sell" rec on AVIR). I tend to feel we will be hearing about a number of hedge funds going belly up thanks to such advise. Obviously, I could be dead wrong. Maybe Avalon knows the entire sector is headed for the trash heap. Hope they are wrong since I have been taking the recent weakness as an opportunity to go long lots of biotechs. ;) Anyway, watching BTRN on a day like yesterday was Chinese water torture. Is someone trying to pressure this one? Or is one of the venture guys still unloading? When a stock moves in the last three minutes of the day seems to me that someone is covering something? But why on earth would someone short this one now?? p.s. If BTRN returns to 3, should we assume that MEDI-507 is completely worthless? ;)