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Strategies & Market Trends : Charts for Bottom Breakout -- Ignore unavailable to you. Want to Upgrade?

To: Ed Huang who wrote (2541)	6/7/1999 10:25:00 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 3105

Hey Ed, I have enthusiastically doubled my shares in MAGN today, chart is breaking out, and I was very pleased with recent conference call. To be sure it is a very speculative play, but I feel good about bringing this microcap biotech stock to the thread and recommending it. One to check out I think, and I am way overdue to bring a winner to this thread, so maybe today is my day to pick a three-bagger. See MAGN thread for details--it is still not my largest position, 5k shares split between me and my wife, which cost about 8k I think, so that is half as big as my positions in cnsi and ctii, about the same sized position as my ntii. I am crazy, no fear, but I like all these stocks short term (a couple months to pay 50%) and long term (all potential ten bagger material in five years). Anyway, after hearing Magainin's Chief Science Officer talk over the weekend. I would estimate there is a better than 50/50 chance that FDA will approve their antibiotic cream for diabetic foot ulcers (I could not beleive that it costs 40k/year to treat the unfortunate people with this horrible condition). And if pex is approved, I thing the stock will go to $6 easy--because they will see 30M revenue a year just for USA. If pex is not approved, I see magn going back down to the lows --$1 1/2, but you could still own it long term for Squalamine. That is what I will do, if MAGN turns out not to get approval, I will not take my loss, and it, like so many in my portfolio, will become long term holds for work which has many years to develop (Squalamine is just entering phase II or metastatic lung cancer in a few weeks, so it will be several years before this one could bring profits without pex.) As always, good luck, do your own DD, and remember, small cap biotech is the cheapest sector I could find in the this market. If even a small amount of the I-nut hype money shoshes over to this sector, it will be a wild ride skyward for some of these little companies--which have so much potential if only investors would help them out and invest.