Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 190.43

-0.7%

3:59 PM EST

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To: Cheryl Galt who wrote (7032)	9/19/1997 6:20:00 PM
From: Arthur Radley	of 32384

I would intrepret (IMO-in case tonyt is lurking out there) today's volume as a positive. Going back to an earlier post,there is very little open interest in LGND options. Regardless, when you consider the near straight up climb in LGND common over the past three months(since early June the stock has risen from 12.50 to 17/ a 36% increase)you would expect some profit taking. My records indicate that in past 35 trading days,LGND has closed lower only 11 times and the biggest drop was 3/8 onAug.8 & 28. The Aug28 is easy to understand because in the 3previous days it had gone up by 2.25 points.The bottom line is still accumulation on heavy up volume and selling on small volume down ticks. Again as I have stated earlier (IMO) there is heavy accumulation by the MM's and when the diabetes announcement comes it will be a blow out to the upside. You can then expect a correction but even then it should only be temporary. Rarely does the investment community have a chance to get in before a biotech releases good news but considering how out of favor the biotechs have been and only now are they getting the proper attention. Have a good weekend.

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