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Biotech / Medical : CEPH -- Ignore unavailable to you. Want to Upgrade?

To: Rudy Saucillo who wrote (755)	5/13/1998 1:05:00 PM
From: IN_GOD_I_TRUST	Respond to of 998

Anybody see the recent downgrade...... biz.yahoo.com

To: Rudy Saucillo who wrote (755)	5/13/1998 5:30:00 PM
From: VLAD	Read Replies (1) \| Respond to of 998

FWIW, I spoke with Rubin on the phone just now and here is what I got. 1)The company does not know exactly what the FDA wants at this point. 2)He felt that the FDA is playing beurocratic red tape games. 3)Company will issue no statement until it meets with the FDA. 4)Reuters article was pure speculation. Neither analyst discussed the situation with Cephalon and the comments were off the cuff and based on "what if" scenarios. My own observation: Stock was heavily shorted by Goldman Sacks as a speculative play--they played on fear and deserve to be squeezed big time. If you are long and out of the money I would not sell at this point as I believe a strong rebound is due once the smoke is cleared. PS I bought in today at days end.