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

To: Mark Oliver who wrote (696)	5/29/1998 12:39:00 PM
From: PawPr	Read Replies (1) \| Respond to of 965

I think you've learned a valuable lesson: Never, EVER, buy a stock on news from CNBC or any other financial broadcaster. Stories reach the media after other knowledgeable people have already made their investment decisions. Yesterday's FDA meeting on Avakine was public knowledge for months before the CNBC story. By the time you ( and many others ) had placed your order, the MM had already marked the price way up. Its all a matter of supply and demand. That being said, once today's volatility has been worked through, I think the stock will trend higher. Nevertheless, @ $40/share the valuation is still quite high, and I think the chances of big capital gains from here are limited. Having bought last week, I was simply looking for a quick trading pop after the drug approval; when it didn't come, I was gone. Don't feel bad about being sucked in. Its happened to all of us ( including me ).