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The last post refreshed my memory on this BTGC issue.
1.They do a great deal of self promoting and I first saw it and bought it at 6 plus in '96 after they advertised in Barrons.
2.They make a hormone for the elderly as I recall and for the nursing home market.
3.They were one of the earliest biotechs to turn a profit and were immediately compared to Amgen in later articles and ran up to 12.I thought they were ahead of themselves and got out leaving quite a bit on the table.
I am sure it is a great technical trade if you know what you are doing but it is also a story stock so keep that in mind.
Regards.John
------------------ Reply Separator --------------------
Originally From: James Charles <money4u@xxxxxxxxx>
Subject: Re: btgc
Date: 02/18/98 09:24pm
Hi Richard,
I make no attempt to predict the future for BTGC but here's something about its past. BTGC was a
darling of the Buy and Hold boys and the EPS/New Highs groupies in late 96 and early 97. Many of
those guys are still playing the stock. Their psychology is to grin and bear declines until they
become unbearable or until they lose a percentage of their investment that is not related to the
performance of the stock but rather related to when they got in. When they're all out, the stock
can only go up. You need to take a close look at volume analysis to figure out if all these
disappointed guys are out of the stock yet. Be careful because when they thought the stock had
support at 11, they found out otherwise. Notice 7/8/97 and more recently 1/29/98, see how the price
action, follow-up and volume compares with today. The carefully analyze the news that must be
responsible for today and evaluate today's drop in that light. Please let me know your analysis, I
might want to play the stock myself. I think BTGC is an Isreal based drug company specializing in
hormone based pharmaceuticals, with HQ in New Jersey. Good P/E.
Best wishes,
James
richard tobiassen wrote:
> has anyone there have a position or opinion on btgc(biotechnology
> general development corp).......i am long at 10......and 8
> 3/8.....(different accounts).......it is not a core holding,,,,but i am
> thinking of being long till the next earning period or the one after.
> this was/is one of "individual investors' piks,'smart moneys' piks and a
> couple of other groups........."stars for 98" they all picked it at
> 12.......i have bought and sold it with success,,,,,now i am undecided
> as to keeping it...
> thanks
> good trading
> rich t
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