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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (5858)	10/8/1998 3:09:00 PM
From: Pete Mason	Read Replies (1) \| Respond to of 7041

Oh, I do agree with you, Linda; the path of least resistance is down. But if you take that as an established fact, then every time the stock rises is a gift to you if you've done some covering at low levels. The more sure you are about the long term trend, the more you can make as the stock oscillates in the meantime. Back when ZITL was above 5, I shorted and covered a number of times. The stock would drift down, then some press release would appear and crank it back up, then it would drift back down... heck, if ZONA did nothing but trade rapidly between 12 and 20, it would be great!! Anyway, the whole market's been so thoroughly pummelled lately that I have felt obligated to take some shorts off the table, no matter how crappy the underlying issues; got to make hay while the sun shines, right? >> For another, there's nothing to keep the price of the stock up! << Well, there do seem to be a fair number of longs out there who completely believe the ZONA story (have you looked at the aptly-named Yahoo boards?)... and then there's people like us short-covering! ;-) -- Pete