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Biotech / Medical : Amgen Inc. (AMGN) -- Ignore unavailable to you. Want to Upgrade?

To: Joe Sabatini who wrote (398)	11/9/1997 2:22:00 PM
From: D. Stamp	Read Replies (1) \| Respond to of 1906

Joe, FWIW as I stated before in a previous post my opinion is that the money coming out of the high PE ..high-tech stocks is looking for a new home and AMGN fits this bill. Friday the market was down 100 points as you know and tech stocks also. AMGN closed up a dollar. The volume in the stock was only about 1 million at its low then came roaring back in one hour on the remaining 1.6 million. Be careful putting too much emphasis on short term technicals in a situation like AMGN is in at the moment. Although I use TA myself all the time, a stock in this position can stay overbought with high readings for quite some time. Just my opinion. I personally feel AMGN will close the last gap to 56-57 before any real pullback takes place.The news at present has just been too good and any minor pullback will probably be met with buyers as we saw Friday. Just my opinions, Don Stamp