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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Cytokine1 who wrote (5951)	11/14/1998 3:38:00 PM
From: Rocketman	Respond to of 9719

Geez, looks like we screwed up big on the accounting and reporting. There was a buying power error when we shorted the GERN on the 6th. In order to allow the GERN short, which was a very high priority for us, we had to sell our GENZ position on the 6th, 570 shares @ $44 1/8 which raised $25,151 and took our margin loan to $71,026. With an equity of $119,630, this left us enough buying power to short the 2000 GERN @ $19 on the 6th. Now, the Fantasy Brokerage does tie up buying power to cover the replacement costs of shorts, but as the shorted stock drops in price, they free up the reserved cash for buying power. Got to love the Fantasy Brokerage, they do have very favorable terms. This gave us enough buying power to short 2000 ENMD on the 11th. But, on the 12th, even with the drop in ENMD, we did not have enough buying power to do the 1000 share ENMD short @ $25 1/4, and this trade was never accepted by the brokerage. (Just got the bad news in the mail today!) Anyway, CYTO, please redo the spreadsheet as needed to show the above changes. In the future, we will try and be more careful watching the numbers when we short. Thanks Andreas for pointing our how loose our brokerage is. Rman

To: Cytokine1 who wrote (5951)	11/15/1998 7:08:00 PM
From: Cytokine1	Read Replies (1) \| Respond to of 9719

correctedMODEL PORTFOLIO 11/13/98 Change $5283 UP 4.61% Started 4/9/97, $100K . INDEX ^IXB UP 0.43% YTD EQUITY CHANGE 67.6% # CURRENT DAILY CURRENT COST TOTAL %GAIN/ % OF SYMBOL SHRS PRICE CHANGE %CHG VALUE SHR COST LOSS TOTAL ======= ======= ======= ======= ======= ======= ======= ======= ======= ======= CLTR 1000 28.13 -0.94 -3.23% 28125 10.88 10875 158.6% 14.8% SEPR 272 70.88 -1.63 -2.24% 19278 37.55 10214 88.7% 10.2% AGPH 300 38.50 -0.88 -2.22% 11550 26.00 7800 48.1% 6.1% CGPI 2000 11.88 -0.13 -1.04% 23750 9.00 18000 31.9% 12.5% MOGN 2000 7.88 0.13 1.61% 15750 7.00 14000 12.5% 8.3% INCY 1500 30.00 -0.69 -2.24% 45000 30.61 45909 -2.0% 23.7% MLNM 300 18.56 -0.56 -2.94% 5569 18.63 5588 -0.3% 2.9% GZTC 2000 6.13 -0.38 -5.77% 12250 7.737 15475 -20.8% 6.5% LGNDW 3000 5.50 0.13 2.33% 16500 8.75 26250 -37.1% 8.7% ABSC 2000 5.94 0.94 18.75% 11875 8.735 17470 -32.0% 6.3% GERN -2000 11.94 -1.44 -10.75% -23875 19.000 -38000 37.2% ENMD -2000 23.00 -1.88 -7.54% -46000 33.375 -66750 31.1% STOCK ______ ______ ______ ______ 119772 66830 79.2% 100.0% SHORT SALE CREDIT ______ ______ 104750 MARGIN MTCE. EQUITY 40.7% MIN 30% (71026) BUYING POWER $ ______ 12595 EQUITY (NAV) ______ ______ ______ 153496 100000 53.5% ^IXB INDEX 363.12 1.55 0.43% 302.42 20.1% NOTES: OPEN orders subject to available buying power--- GERN limit buy ord 2000 shrs @ $9 to cover short 11/12/98 -25250 ENMD short sale rejected/cancelled 11/12/98 25250 ENMD sold short 1000 @ 25.25 11/11/98 66750 ENMD sold short 1000 @ $34.00 and 1000 @ $32.75 11/6/97 38000 GERN sold short 2000 shrs @ $19.00 11/6/98 25151.25 GENZ sold 570 @ $44.125 11/5/98 1500 AMLN sold 2000 shrs @ $0.75 11/4/98 -16500 INCY bought 500 shrs @ $33.00 11/4/98 1937.5 DURA sold 200 shrs @ 9.6875