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

To: Pete Mason who wrote (5860)	10/8/1998 3:19:00 PM
From: Linda Kaplan	Respond to of 7041

I purposely don't read the Yahoo boards on this stock, because I know it's a real zoo. I've heard about some of the posts there by some of our members. Yuch! Usually SI is more than I have time to keep up with so I only rarely look at other boards; and only if they offer something I can't get here. There's one Yahoo board I look at from time to time, has a lot we don't and very good, and there's another service that looks like it will be very good, too. Meanwhile, there's never anything wrong with taking profits. You're right that a little short covering would have kept the stock up today but there's always tomorrow. The bear market is not over yet, according to a lot of people I respect, anyway. But what I meant when I said there's nothing to keep the price up is that this is not the kind of stock people ordinarily want to hold long in a bear market. That's because it's highly speculative, with no approved drugs. People prefer the proven companies, usually. It's possible the stock will never get back to the highs it had in anticipation, this year. That happened to me in another stock. People thought an approval was coming, the stock went to 15, then the approval was delayed and when it came the stock never went near 15 again. Now the stock is 2. Well, I held thinking if it went to 15 anticipating approval, after real approval it would be 25, but I was wrong. People expecting ZONA to do better if they get an approval may find ZONA does worse, even if approved, because the drug won't do that well in the marketplace and because people won't care that much about it by then. Too much better on the market. All those speculative factors make this a bad stock to hold such a long time prior to FDA decision, in a bad market. IMO, of course. I will have to check the charts to see the next stop down but I think there's going to be very little support for the stock from here on. Linda