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

To: C. K. Humphries who wrote (1773)	1/16/1998 9:29:00 AM
From: Michael Bidder	Respond to of 7041

This short rally will be short lived. The hammer can fall from Asencio at any time so the longs will be carefull. Best never to get yourself to overleveraged in the first place. My advise to you is a small cover if you are vulnerable to a call. Otherwise keep shorting into the rally. Best of luck and your judgment is correct!

To: C. K. Humphries who wrote (1773)	1/16/1998 10:49:00 AM
From: Slim Pickens	Respond to of 7041

Kent, Two things about shorting: 1) Get out fast if it starts going against you or 2) Protect your short position with calls, and get out before the calls expire. This is likely to be a test of you resolve. It's early in Zonagen's development, too early for short sellers to expect to kill the company. Assuming their claims are intended to profit from the fear that they can generate, the fact is that you can only scare just so many investors. After that, the stock is likely to rebound. Eventually, the true value will show itself, which in this case may very well be zero, but the chance of success still exists. I think professional short sellers are happy with a stock decline seen here achieved on ZONA. Covering is taking place right now. I think any up day with 400,000 shares volume displays continued short covering. I'll be surprised if your position is profitable until Viagra hits the market.