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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01 -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (11202)	7/8/2002 9:59:43 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 13094

Jim, I think I will be able to rebuy both at or near the prices I paid earlier. I don't see anything in the current move other than a snap-back from severe oversold conditions, and usually those don't hold for long. I could be wrong, and if they started a sustained move I will just have to pay-up.... INSP is my gainer of the day, I had more than a few shares... ____________________________ How aobut MRK & their swell GAAP accounting? FT.com, Financial Times Merck shares hit by fresh accounting doubts FT.com staff Shares of Merck, the US drugs group, traded sharply lower in Europe after new reports that it had booked $12.4bn in revenues in the past three years, which it never received. The stock traded lower in Frankfurt and on the electronic exchange Instinet, in low volume, falling 12 per cent to $42.95 from its $48.86 New York close on Friday. Traders were reacting to a press report that Merck had disclosed an earnings overstatement in a recent filing with the Securities and Exchange Commission relating to a planned offering by its Medco pharmacy benefits subsidiary. In an amendment filed to the SEC on Friday, Medco said "retail co-payments included in product net revenues amounted to approximately $2.84bn in 1999, $4.04bn in 2000, $5.54bn in 2001, $1.38m in the first quarter of 2001 and $1.64bn in the first quarter of 2002, each with a corresponding equivalent amount recorded in cost of product net revenues." Merck said in the report that the revenue recognition was in accordance with US accounting practices. Monday's disclosure is a fresh setback for the company. Its shares were hit two weeks ago by allegations that it inflated Medco's revenues by billions of dollars last year by using an aggressive accounting method eschewed by some of its rivals. At least four lawsuits have been filed against the company by shareholders