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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: John Patterson who wrote (7007)	8/26/1998 11:05:00 PM
From: Slugger	Respond to of 17367

<<this is a bear and a damned big one!>> I thought this was a correction, but am starting to think the same as you. September is, on average, the worst performing month of the year and we're not even there yet, not to mention October's history of crashes.

To: John Patterson who wrote (7007)	8/27/1998 6:06:00 AM
From: E.J. Neitz Jr	Read Replies (1) \| Respond to of 17367

John Patterson--Agree with everyting You Said Have been an investor in small caps since 1983, and the current environment for small caps has been horrible. I suspect much of the recent rapid drop in small stocks over the past few days is both margin call and " throwing in the towel" related. My experience tells me we are close to final capitulation--and I am now buying after remaining on the side-lines for many months except for a few trades. The creation of real wealth comes from buying at the right price and then holding. I got my answer I was looking for in a previous post--insiders are buying XOMA. I recently started to buy Xoma again, mainly because I detect the possibility of great value, but understand the possible risks--but when you have a low enough price, the risks are reduced considerably. I do feel sorry for those that are in Xoma at much higher prices-- but I too are in that situation with a few other stocks, so I can understand the pain. Best wishes to everyone and I sincerely hope everyone comes out all-right on this.

To: John Patterson who wrote (7007)	8/27/1998 8:33:00 AM
From: charles moore	Respond to of 17367

I agree especially about the Oil Stocks.I also saw on CNBC the other day where an Analyst was downgrading the Pharmaceutical Stocks. When there is "Blood in the streets " I like to buy and wait. Charles

To: John Patterson who wrote (7007)	8/27/1998 8:47:00 AM
From: Terry Whitman	Respond to of 17367

Well said John. Q: How do you know when you're in a bear market? A1: You can't "bear" to look at your stock prices. A2: You think a stock is at a good buy point on Monday, and by wednesday it is 20% lower. A3: You go to a cocktail party and no one has any stock tips for you. But Seriously folks, buying XOMA here is like trying to catch a falling knife. Good news is having little effect on the small caps that I follow, so don't expect XOMA to double or triple if they come out with good press. Take a look at a chart of the Russell 2000 and you'll see- It is in a free fall. IMHO the large caps will soon be following. Have a nice day, TW