great buy, page-5

Back in late December, I said this:

"But, from mid-February on, there will be profit taking ahead of the big announcement, especially by risk-averse fund managers who will want to lock in their upside. These are the people who will want to be out of the stock when the announcement is made- many of whom will buy right back in if the results turn out positive.

"My point is that the last three or four weeks before the announcement is made will see a lot of volatility in price and volume. It will not be for the timid.

"Me, I plan to ride this horse all the way to the finish line, whatever the announcement might be, as has been my intention since 2003."

It isn't just fund managers, but lots of folks, who bought in in the 40 to 50 cent range and are quite happy with locking in their 100% plus profits. There is a lot to say favoring this kind of conservative strategy, and there will be those like me intending to ride through to the finish, whatever that might turn out to be.

We're in one of the selling waves now, but it won't last, no matter how far the stock may fall in the coming hours or days. The selling will spend itself, as it always does. Then buyers will reassert themselves and we'll see big up days again.

I'm no good at timing these things. I only know that it is going to be a rough ride for the next four to six weeks leading into the trading halt, and one not for the faint of heart.

And I know one other thing: this stock is going to be very hard to buy the day after successful trial results are announced in March.