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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (3025)	5/26/1999 10:47:00 AM
From: jeffbas	Respond to of 10280

Steven, I see I owe you an apology. If you knew me you would know that I am a reasonable skeptic even on my largest holdings, for which I regularly get slammed on YAHOO by "cheerleaders". A sophisticated investor (and I have been doing this for 35 years) has to look at every holding skeptically and try to figure out a rational explanation for what is going on. If none exists, then you may have opportunity. By the way, my opinion is that the option premiums are too high. A very sound strategy here would be to buy at some panic point and sell a January 2000 option perhaps 50% out of the money. You have material protection if the stock keeps declining and an outstanding 7 month return if the stock gets called away. You do even better if you take some risk and play for a short term rally after the purchase but before the option write.