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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Dayuhan who wrote (24615)	8/27/1998 8:41:00 AM
From: Ish	Read Replies (1) \| Respond to of 108807

<<Imagine how much you could make on biotech if you could get the FDA approval list a day before the general public. I don't have the apparatus, but it wouldn't surprise me to learn that somebody, somewhere, does.>> I have a friend who spends 12 hours a day playing that game. The FDA has a panel that meets and at the end of the day either recommends approval or not. Months later the full FDA meets, not bound by the panels decision, and either approves or disapproves the drug. Usually announced after trading hours and trading is usually suspended during either the panel or board meetings. The board may delay approval while waiting for more information. The trick is to know when these meeting take place. As word of the meeting leaks out the stock tends to edge higher. It's not unheard of for a stock to drop even on approval, the buy on rumor, sell on fact theory. My friend made some good money for a while by buying the calls 60 days before the meetings and selling the day before. Now there are so may playing that game that sometimes the stock peaks two months prior to the meeting. Sorry to sink your plan, it sounds good but about a million people thought of it first. Bill