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Biotech / Medical : Biochem Pharma (BCHE) -- Ignore unavailable to you. Want to Upgrade?

To: Del Holmes who wrote (210)	1/11/1998 1:12:00 AM
From: Todd D. Wiener	Read Replies (1) \| Respond to of 783

Historically, BCHE has declined about 50% from its peak. It has done this twice before and it's nearly 50% from its recent high. It is also at or near historic lows in price/book, P/E and price/sales. The stock is severely oversold, and I suspect that the bottom is very close. The stock was doing fine on Friday, until a lot of institutional selling took place during the final few minutes. There were probably no buyers, and that's why the stock dropped so sharply. Since there has been no bad news yet, I wonder if we're witnessing a selling climax. I'm tempted to buy more on Monday. I haven't seen any indication that Q4 was bad, so I'm a bit surprised at the sell-off. The slipping Canadian dollar has put pressure on the Nasdaq-listed BCHE, but it wouldn't account for more than a point or two. It's trading at about 22 times 1998 estimates. It's damn cheap, I think. I'm just wondering if it will go much lower. Todd