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Biotech / Medical : Biotech Stock Picking - 2002 -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (272)	7/4/2002 9:14:20 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 308

I think biotechs really are bottoming-out now. Each day, sheep are fleeced and I have to beleive smart buyers are loading up on tons of cheap wool. A few buyers for all the little sellers out there that are finally giving up. I guess the losses into 2001 were fair-- after all, we newbies really had no idea how carried away things got in the first place. If my Genset could go from $6 to $60, then collapse under a buck recently, only to go out for $3, in a <cash> deal...well, apparently Ms. Market does not value things correctly at all, does she! So how far have things overshot to the downside, and what sort of a return can we get in the year ahead? Ha, you tell me. I apparently suck at this. Good luck! A few people are going to figure out a way to make money at this in the months ahead, maybe it will be you Dude. All I can say, is the market is a real bitch sometimes...I have no expectation that I can pick a good stock anymore. I happen to be sitting at 20% stocks/rest cash, and it is not very likely I will deploy what remains from '99/00 into a sector that is damn tricky to understand. --Just another prospector, shivering in the icy water.