Entremed (ENMD)

[RRGY2K]

The subdued response is grounded in seven years of experience, in my case. Yes, the results are encouraging, and yes, I think they are significant. But the market is fickle and populated by a lot of short sighted fast buck artists, so I also think we'll see downs again before we go up to stay. We might see the clinical results we'd all love to see this spring. Or maybe next year. Or maybe we'll find a new hurdle to get over before we really know the answer.

My strategy: buy and hold, add some shares on the dips, and never over react to today's news.