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Biotech / Medical : AMRN: Amarin Corporation plc -- Ignore unavailable to you. Want to Upgrade?

To: Mkilloran who wrote (2)	12/18/2001 1:43:12 AM
From: Mkilloran	Read Replies (1) \| Respond to of 49

Amarin Revisited Tuesday December 18, 12:01 am Eastern Time Forbes.com GE's Second Wind, Plus Amarin Revisited By Ben Berentson Steven Todd (see "Todd Calls RadioShack An Opportunity"), editor of theTodd Market Forecast, thinks General Electric 's rebound from its September lows is the beginning of long upturn. The stock is now trading around $39, off 27% from its $53.50 high in May, and even more from its year 2000 peak of $60. "Looking at its chart, I see a majorreversalunderway on high volume from the low on Sept. 21, where it dropped below $30." Todd thinks that GE has paused to collect a second wind before pushing upwards. ADVERTISEMENT There has also been a reversal in the stock's relative strength index, which compares the number of days a stock trades up with the number of days the stock trades down. GE's has recovered from its lowest RSI in 15 years. Todd thinks the market overall is in for a long rally and he considers GE to be a good proxy for the market as a whole. He recommends putting in a stop loss at $34, because he sees significantsupportat $35 and predicts the stock will recover at least to its previous high of $60 over the next year. The Chart Room has received several e-mails about previously featured pharmaceutical stock pick Amarin , which was recommended by Dennis Slothower, the editor ofOn The Money. Slothower recommended the stock at $24.50 on Nov. 1 (see "Amarin: A Remedy For Ailing Portfolios"). It climbed to nearly $29, but has since retreated to $17. For those who didn't follow his advice and put a stop loss in at $20, hang in there. Slothower is still a buyer. "I think the decline is mostly from sector fund managers shifting their holdings." He sees considerable support at the $15 to $16 level for Amarin since August, and thinks the stock has bottomed. "I have it valued at $41," Todd says. "I think people will move back into more defensive stocks like health care as the market corrects and I still expect it to double in six months." Send comments and questions toinvestingnewsletters@forbes.net. AMRN