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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Rosen who wrote (1203)	12/22/1997 12:29:00 AM
From: Michael Bidder	Read Replies (2) \| Respond to of 7041

Bruce put a potato in it. Any company that would anounce a buyback with venture capital that was originaly raised on the pretex of research and marketing is very unethical. If you do not see this then I doubt your sincerity. Lurkers please translate "doubt your sinserity" for yourselfs.

To: Bruce Rosen who wrote (1203)	12/22/1997 12:56:00 AM
From: Bill Wexler	Read Replies (1) \| Respond to of 7041

Bruce Rosen weighs in with his first intelligent comment: <<When you get right down to it, if Zonagen management, directors, consultants and contract research organizations are taking a huge personal risk by perpetrating a fraud that has either fooled or involves Schering-Plough, then Zonagen investors will lose. >> Zonagen is now down 50% from it's hype-high. Zonagen has NO effective drug. Zonagen has NOT released the Phase II and III results. Zonagen has NOT filed an NDA. Zonagen gamblers have already lost!!

To: Bruce Rosen who wrote (1203)	12/22/1997 1:37:00 AM
From: Rick Slemmer	Read Replies (1) \| Respond to of 7041

Bruce: Hope you had a good weekend, and thanks for your reply. I was first attracted to ZONA by screening several thousand stocks for price movement patterns that have been very profitable in the past. I am by nature a technician, and I believe that the price movement says much more about investor/trader sentiment than all the fundamentals put together. All too often I have seen well-run companies with sound finances run into the ground simply because there were no buyers, so low P/Es, Phase III trials, and all the rest of the fundamental factors are incidental as far as I'm concerned. It's a market, and markets run on mob psychology. Regardless of what the shorts or longs say here about the prospects of Zonagen, the stock will move as the market dictates. Right now the principle direction is down, and I intend to ride it down. Why fight it? If there ever comes a time when the stock starts upward again, there will be plenty of warning and, if the circumstances warrant an agreeable risk/reward ratio, I might buy some ZONA. The train goes both directions, but you need to be on the right platform when it pulls out. What I do not understand is why, on this and other threads, some folks insist that the market has it all wrong, that this particular company is the unwitting target of unscrupulous market-makers, paid shills, newsletter editors, and assorted others whose only crime is an opposing viewpoint. The first rule of investing is not to fall in love with your stock. The second rule is sound money management, which usually translates into limiting your losses. When the stock falls past your stop-loss limit, sell the damn thing and wait. It's a commodity, and since it's fallen recently it will most probably continue to fall. If you really believe in the company, wait until the stock bases to buy it again. Your only other choice is to buy it and don't look for 10 years. So ZONA is down from 45 to 21. If they have this wonder drug that cures impotence, do you think the stock is going to rocket past 45 without a rest? Of course not. There will be plenty of warning and a lot less risk. And if Zonagen thinks that a stock buyback program is a good deal at 21, that's most likely the maximum level at which they will consider buying shares. One more thing to think about; all those investors in ZONA who bought the stock on its way down from 39 in November are looking at a pretty grim picture. "If it ever gets up to where I bought it," they say, "I'm dumping it." There are an awful lot of people putting further downward pressure at every intermediate price level on the stock as a result. In the stock market, don't pay attention to what people say; watch what they do. The stock price and charts tell you what people are doing. Good luck! RS