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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: jayhawk969 who wrote (5518)	8/28/1998 1:05:00 AM
From: Vector1	Read Replies (2) \| Respond to of 9719

I am reminded by the famous cartoon where after a huge market downturn there is a single broker left. His shirt is open and his tie is askew. The caption is " last one out turn out the lights" Could someone explain how the Asian and Russian crisis results in the huge plunge in biotechs. hell I can understand the crash of bank stock, oil stocks, oil service stocks, semi conductor stocks, multi nationals, shipping companies. But I can not understand on a fundamental basis the indiscriminate crash in the biotechs. There are some great buys here and some opporunities for the brave and liquid to make some incredible returns. Among the cheapest are ABSC trading at a technology value of less than $40 million. INCY closing in on 20. CLTR, GZTC, LGNDW. The list goes on. Batton down the hatches. Stay calm and rely on the fundamentals and if you have real balls start nibbling at your favorite bargins. Stay away from margin and take a long term view. So far there have not been huge redemptions by the small investors. The selling has been by institutions who have gone onto the sidelines and are buying US treauries. As the crisis deepens the Fed will lower the discount rate making treasuries less and less attractive. if the mutual funds don't get hit with redemptions I believe the US market will hold well above 7000 and rebound within 12 months. V1