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Biotech / Medical : A Biotech Bash - Recs and Wrecks
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To: scaram(o)uche who wrote (51)8/27/1997 10:34:00 AM
From: Henry Niman   of 171
 
Rick, I think that the posts in this thread were most appropriate. I do tend to back up posts with hard data and several of my responses a couple of days ago regarded exactly who owns what science, which is most appropriate for this thread since its supposed to concentrate on science. I also have indicated that I thought that the sector needed good news and LGND would provide it. A few additional posts targeted LGND's science.

Timing Biotechs is always tough. Its true that LGND hasn't done much since it hit 17 last May. However, at 17 it had more than doubled from its price a year earlier and I do expect it to go markedly higher in the next year. You had asked when it would begin to move when it was at 13 1/2 on Monday. I said "now" and so far it has.

It did hit 15 1/2 this morning and I expect it to continue to move upward, although large jumps almost always bring out some profit takers (and the CNBC coverage keeps mentioning ALRI which at best is worth $21.97 - it opened at 23 1/2!).

My comment about selling too soon, relates to a long term play. If you can time biotechs well, you can make more than buy and hold. I recommended buying and holding when it was at 6. If you can buy low and sell high you will do well. However, one of the most common attributes of individual investors is their propensity to sell at the low.
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