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Biotech / Medical : GZTC -- Ignore unavailable to you. Want to Upgrade?

To: kinkblot who wrote (556)	9/18/1998 5:40:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 752

Will, I commented on this back in March on the VD thread: Message 3865529 I continued to hold my few shares because I assumed that the holders would save their short selling for the 20 days prior to first conversion, which hasn't happened yet. On the other hand that may be viewed as manipulation, so maybe they just shorted immediately. The disclosed short interest has climbed some (to 164,000 shares) but not a lot. I guess I should have stuck by my normal rule of exiting at even a hint of a floorless convertible, although it's not completely clear that it deserves the blame for the decline. Peter

To: kinkblot who wrote (556)	9/18/1998 8:05:00 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 752

Is it a coincidence that the stock topped out in March, the same month this 'deal' was completed? I don't know if it is too useful to find a reason after the fact--I just try to bail at -20%, and wait for the chart to bottom out. When I break that rule, twice this year, I've been sorry. You might consider doing mental stops if you aren't already. But if it is important to find a reason you could put a third of the blame on the poor performance of the biotech industry in general, another third because it's a small/micro cap stock, and a third of the blame on the dilution effect. Lots of things working against it--what bothers me is the fact that biotech, like the market in general, has turned up a bit in the last few weeks--but a lot of the smallest issues like GZTC have not showed any life yet. quote.yahoo.com I had guessed that GZTC had bottomed out back in August at around 5 3/4...and there I got in. It made a nice little run up to nearly 7, then, as you know, resumed it's slide. I bailed at $5...and am waiting for the chart to look like it has bottomed again. --MM