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Biotech / Medical : Centocor ( CNTO ) -- Ignore unavailable to you. Want to Upgrade?

To: FNS who wrote (463)	12/19/1997 1:11:00 AM
From: Robert Voigt	Read Replies (1) \| Respond to of 965

To all: Please welcome me as new member of your club. I bought on Wednesday after the downgrade because it looked like the stock still had all the promise from before, but just delayed. It appears that whenever there is bad news on any stock, the market over-reacts. I am not a trader, so I am in this for a long term investment. While I dislike days like today, I think this stock definitely has a positive futurte. Hope I am right.

To: FNS who wrote (463)	12/20/1997 12:59:00 PM
From: Pancho Villa	Read Replies (1) \| Respond to of 965

FNS: >>All kidding aside, Pancho is no doubt very unhappy about this situation and probably tied up with other things! But I'm sure we'll hear from him with some financial comments.<< Hi! still on the boat! actually was planning to increase my position by 50% by selling my LLY but I am overseas and do not have the time/ resourses to carefully analyze the situation. Which brings me to my rule #1 in investing... The best action in the presence of incomplete information/analysis is to hold. Actually for CNTO my impulse was to buy not to sell. May get around to buying next week particularly if it goes under 30 again. The company fundamentals are good, the market cap however was at a level that the stock could not absorb any bad news. Good news will come. The night before our trip we had dinner with a friend (neurologist) participating in the Reopro trials for stroke treatment and she was extremelly impressed with her limited view of things. On the IPIC drug (the one they just introduced for approval) her opinion is that the drug is not effective does no good but does no harm either. let's see if the IPIC lobbying machine will be capable of pushing an ineffective drug through. Regards, Pancho PS: the info on Reopro trials must be taken with caution. For one thing I have no idea on time frame for stroke use approval.