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Biotech / Medical : wla(warner lambert) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Scott who wrote (291)	7/24/1998 8:34:00 AM
From: HoyaBob	Read Replies (1) \| Respond to of 942

Volatility kills. My (emerging) philosophy is that what we call a "market" is actually several things. There are those who are day trading, shorting, leveraging, trading options, etc. They focus on the ephemeral and make or lose money faster than most investors. Institutions, etc. have a tremendous interest in the volatility, since they are hedging, shorting, and playing the gaps themselves. I guess that my emotional preference for security has to learn to not pull the SELL trigger whenever we enter some chop. Example: I nearly liquidated my 850 shares in WLA today after a 42% runup. It had been 53%, and I got nervous about losing "more" of my paper profit. Then I asked myself: Where would you put the money from WLA sale proceeds? My answer was: "in a stock like WLA ... maybe I could buy it back in the 50's or 60's." Then I realized that I should ignore the doomsayers and just go do some yard work. Zocor and the other stable of heavy lifters will keep WLA profitable for years to come. Do you think my reasoning is flawed?