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

To: quidditch who wrote (3041)	5/26/1999 7:26:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 10280

Today's action was pretty good, and we may not get another chance at the mid 50's. However, your reference to earnings really hits the nail on the head as to the violent downturn -- minus $4 this year, minus $4 next, $5 cut to zero the year after, maybe $10 someday. The market suddenly decided that projection is very hard to value, and it is. If the Street starts thinking that 2001 will also be a decent loss, I think SEPR will have a tough time holding further rallies. January 2000 option premiums are very high and, in my opinion, current long term holders should consider writing out of the money calls.