RespireRx Pharmaceuticals Inc (RSPI)

[bladerunner1717]

gfp,

Most of micro-cap biotech really getting hammered today.

MITI, IMGN, MNTA, COR, SGEN, FLML, ALTH, RPRX, CRTXD are all down significantly.

Baucus and Kennedy will have universal health care plans ready for Obama, even before inauguration, way before anybody thought possible. I still believe that health care reform will be an overall positive for pharmaceuticals and biotech. Bringing 50 million uninsured and underinsured into the system will ultimately be a boon for drug stocks.

But with redemptions from hedge funds and margin calls still going on, I see the possibility of the DOW hitting 7500, and I don't see a let up on the downside until, at least, the end of the year, maybe longer. This will probably will one of the very worst holiday sales seasons ever. That means more bad earnings and many more layoffs in the reatil sector, which is being battered already. And auto sales?? Forget it.


Bladerunner