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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: Platter who wrote (765)	11/3/1998 10:39:00 PM
From: Rocketman	Respond to of 3202

Platter you seem to be posting old, bad, misinformed news and deciding that it portends a trend. Almost as clueless as Warburg, Dillon for doing the downgrade in mid-October. Doesn't say much for their track record to ride INCY down as a Strong Buy from $50 to $21, and then downgrade it to a Buy right before it recovers 50% in 8 trading days. Talk about timing the stock poorly. A definite buy high, sell low mentality. Now, if you are implying that since it has gone up 50% since the downgrade that it should give it all back, then you certainly haven't kept up with the macro trends in the market. INCY tanked in August because major institutional players were getting out of biotech, all biotechs, at any cost, and the momentum investors that had overrun INCY were all pulling out too. When that many shares are for sale in a thinly traded stock, the bottom can get really, really low. Well, the tides have turned, the market seems to have bottomed, and all ships are rising at the moment, especially biotechs. I don't see a reason for them to sink further at the moment. And, I think INCY is beyond their bad press time. The doom and gloom about planning for the future at the expense of the quarter by forming INCY Genetics is past, and the PKN:TIGR threat is pretty much forgotten, especially since INCY will beat them in sequencing the human genome by over a year. The FDA has been approving biotech drugs like crazy. The economy is through its scare. The democrats are kicking republican ass ensuring the stability of the government. The Fed has been acting beyond reasonably and is concerned with heading off recession and deflation and is not chasing non-existent inflationary boogie-men. All in all, things seem to be clicking for biotechs and INCY is a star. Now, if analysts could actually predict the future rather than reporting on the past, then they would downgrade stocks before they fell and before bad news was announced rather than stating the obvious after it happened; and if analysts would upgrade stocks before they announced good news and before their stocks went up, well, then gee, maybe I'd listen to analysts. But, this telling me to sell at the bottom and to buy at the top sounds like a bunch of momentum players trying to keep their friend the trend going just a little bit longer by having us sell when its low (so they can buy) and buy when its high (so they can sell). I think analysts should be banned from having prefered access to companies information, and companies should be required to give equal access to all investors of information divulged.