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Biotech / Medical : Ligand (LGND) Breakout!
LGND 185.97-0.4%Feb 10 3:59 PM EST
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To: MulhollandDrive who wrote (7588)9/25/1997 10:38:00 AM
From: Arthur Radley   of 32384
 
I will avoid getting into a battle of semantics over the word ..breakout. Suffice it to say that in the year since Henry used the term "breakout" to highlight this thread, the stock is up over 30% and in my book this isn't a "washout".
Anyone investing in biotechs would probably have better odds going to Las Vegas. On the other hand if you do your research on biotechs your winning hand with a biotech can be enormous. With any start-up biotech with no product you should expect a cash burn rate above the normal. What is important is how the cash is being used and for LGND that is a real positive feature. To discuss the TA of LGND is meaningless because in most cases the normal rules of TA don't apply. For example, I posed the issue of LGND to a TA and he came back with the very position that you have taken. ..cash burn, volume, no product on the market,biotechs being out of favor,etc...This was when the stock was at 12.00 and obviously it has been able to overcome this woes.
Bottom line I take TA with a grain of salt. Example was CCI, when it dropped to under $15 all of Wall Street said it was going bankrupt and out of business. TA's said to avoid. Thank goodness I bought and today it is trading at $134+. But remember Betty I bought IFMX at $21.00 so even this "ole TexasDude" can be wrong, but when I make mistakes I can only blame myself.
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