Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Hank who wrote (5367)	8/27/1998 4:02:00 PM
From: Linda Kaplan	Read Replies (1) \| Respond to of 7041

Interesting that ZONA held at 16 today and popped up suddenly at the close. Though I think there's been a lot of painting of the tape on ZONA, my read on it is different today. I assume some shorts took some profits when they saw that they'd need the cash to cover their margin for their battered long positions and that that ZONA wasn't going to break 16 on the day. So they probably covered some of their short position on ZONA to take some profits off the table. I think ZONA might break under 16 tomorrow, and then may not see support till the 12 area if it does. There's really not much good that can come for longs in this stock for a year, if they're hoping for approval, and more downside risk than upside during the coming year. There can't be any good news of substance till approval, and that can't come for 12 months, but there can be disapproval of the app, sooner, and that would crash the stock. So I figure more downside risk during the whole year than upside, (in ZONA long position). Rough day for longs almost across the board. Linda