Re: [CANSLIM] Any reason why I should not buy APPX?

From: " Bob Hodes" <rchodes@charter.net>
Subject: Re: [CANSLIM] Any reason why I should not buy APPX?
Date: Tue, 20 May 2003 18:39:46 -0500

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    Tomas: Disclosure:  I am long APPX and having a good time recently.
This stock has good fundamentals but it's been quite volatile.  You will
notice that there is a huge short position in APPX.  About a month ago, The
Street Dot Com had a series of very negative articles that pointed out
ethical issues about business practices, concerns about the integrity of the
CEO and conflicts of interest, and raised concerns about their phase III
clinical trials of ABI-007.  This was all old news but three negative
articles all came out in a very short time frame.  If you go to the APPX
message board on Yahoo you can read all about these controversies.  I was
mostly concerned about their questions about the quality of the ABI-007
phase III studies (issues were raised about the sample size being too small
for the study to have enough power to clearly demonstrate the efficacy of
ABI-007, concerns that patients were recruited from research centers in
eastern Europe/Russia, etc.

After these stories came out, the stock declined in price but it has since
more than recovered and broken out to a new 52 week high.  That's pretty
interesting given the enormous short interest in APPX.  Squeeze?

So do you DD on this stock.  Good luck.

Bob Hodes

- ----- Original Message ----- 
From: "Tomas" <tomas986@yahoo.com>
To: "canslim canslim" <canslim@lists.xmission.com>
Sent: Wednesday, May 14, 2003 11:09 PM
Subject: [CANSLIM] Any reason why I should not buy APPX?


> APPX has very good fundies.  It has 15.13/18 from
> Katherine's CE (8.80/11 CEF and 6.33/7 CET), not too
> shabby.
>
> The chart looks good too.  Looks like left cup on 1/30
> at $27.75.  Pivot point at 5/5 at $26.2.  BO is today
> to $28.54 with heavy volume.  Still within the %5 to
> buy.  The handle was trending down.  There was even a
> shakeout day on 5/8 (down on heavier volume but still
> ended up on the higher price range of the day).  The
> CwH looks good.  The only thing bad about this is that
> the handle is only about 6 days.
>
> Management owns about 71% of the stock, mainly by the
> CEO.
>
> What do you guys/gals think?  Any reason why I should
> not buy it tomorrow?
>
> I read somewhere about the IBD curse, this stock is on
> the "Stock in the News" today.  Should I be worry
> about that fact?
>
> tomas
>
>
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