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

To: Hank who wrote (5937)	11/4/1998 9:38:00 PM
From: xcr600	Read Replies (1) \| Respond to of 7041

<< Everybody keeps screaming about the bull market being back and even Wexler is warning people not to short now, regardless of the stock. I've got a real uneasy feeling about things. >> Hank, I couldn't agree more. Unfortunately, my limit covers were never hit for ZONA and now I've let it ride. Probably a mistake short term. This rise in the mkt all started w/ the unexpected 1/4pt cut. Did that simple move solve all the world's ills? I find it hard to believe. Had the fed made the original cut 1/2pt instead of a 1/4, would the market have rallied this much? It seems to me that everyone thinks 10k is the next stop, without so much as a hic-up. I'm underwater on some shorts, and have been covering the other ones I'm ahead. ZONA may be moving prior to earnings next week. Maybe those Mexican sales are up???

To: Hank who wrote (5937)	11/5/1998 2:50:00 AM
From: Bill Wexler	Read Replies (1) \| Respond to of 7041

<<I can't understand why EVERY stock should now go up>> 1) Opening the floodgates of liquidity. 2) An economy which is much better than anyone expected. 3) The proverbial "wall of worry" is still up (your comments are a perfect example of some of the concerns and worries of many small investors) - a much different situation than the specualtive excess of periods like summer of '96. 4) A supply/demand imbalnce in equities. 5) High short interest across the board. 6) A bull market developing in the small - mid caps, where many favorite targets for short sellers reside. My opinion of frauds like Zonagen has not changed one bit, but there are times when it simply does not make sense to short stock - any stock. You are going to be shooting against fund managers who are angling to put money to work and will buy wide swaths of Russell 2000 companies, biotechs, computers, or whatever. Do not short anything at this point in time...better opportunities will inevitably come along. Patience.