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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI -- Ignore unavailable to you. Want to Upgrade?

To: vampire who wrote (5021)	5/8/1999 12:03:00 AM
From: Peter Goss	Read Replies (1) \| Respond to of 5736

So are you buying a business or a piece of paper? The stock has moved back and forth since the recent highs, but I wouldn't say it is skyrocketing. I covered my short position around $11 yesterday, down from the recent highs. Looking to put it back on as the new excitement for the announcement that is always "soon" reenters the foreverbulls consciousness. If you are buying pieces of paper, then you are gambling not investing. You may make money. No investor would get near this company at the current price. If you had $200 million dollars in cash would you buy the company? Most CCSI "investors" are hoping for some more speculative fever to lift the shares, so they can make a quick buck and be gone. The whole current mania is based on the misconception that stock prices are accurate reflections of the underlying business; that if the price goes up the business must be good. It should be the other way around. So I'll pick my spots against the herd mentality when it seems profitable. When reality hits - even if they sell a few of the retooled cosmetic devices - the market will evaluate that reality and not all the hype that gets blown up and down this ridiculous companies and their share prices. For a really prime example check out the news stream and share price of BTIM. Years of hype, then finally "approval": stock gaps open to $20 and then plunges straight to the $11-$12 range because now that the hype is over, the reality has to be valued. The same fate awaits CCSI: a short seller's dream. good luck trading, Peter