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

To: aknahow who wrote (7087)	8/31/1998 8:17:00 PM
From: Thomas J Pittman	Read Replies (1) \| Respond to of 17367

Another possible reason: The selloff today is driven by the fact that people recognize that earnings are not going to materialize that will support the valuations of the large caps. Couple this with the fact that XOMA is not currently purchased by folks with an eye toward trailing 12 mos. valuation models and by the fact that it (and the other biotechs) have not been pushed skyward unreasonably (a la the internet stocks), and there you have it! No reason to sell. We are down in the noise right now with the potential for good news. Most of the market is see the hint of bad news for the first time in years. Just a thought. J