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Biotech / Medical : HBOC...Buy in here? -- Ignore unavailable to you. Want to Upgrade?

To: Jimbo who wrote (248)	9/7/1998 8:48:00 AM
From: Rarebird	Respond to of 341

" Has Your opinion of HBOC changed re where support and lows lie? " On a technical basis, HBOC broke down terribly when it closed below $25. A decisive close above this level means we will challenge the 50, 100 and 200 day moving averages again. A failure to close above this level means that the recent move from 21 to 25 was merely filling a gap and that HBOC is headed lower to the $18-19 level, where there is some minor support. Much stronger support lies around the $15 level. If we get a Bear Market Rally here, HBOC could move up to the $29 level. On a short term basis, I'm alarmed at the tremendous amount of big blocks being sold here by money managers and Institutions. This type of Selling usually takes about 6 months to play out. On a longer term basis, the fundamentals will win out and HBOC should be at new highs by the Spring/Summer of 99. I bought at $27.5 and have a target price of $40. I would be thrilled if the Bear Market brought the stock down to the $15 level as I would open my vault here. I'm comfortable holding the stock; but it sure is very volatile and I think you need some patience with it.