Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 196.08

-0.2%

Jan 15 3:59 PM EST

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To: Henry Niman who wrote (3311)	6/5/1997 12:27:00 AM
From: Scusami	of 32384

Henry et al: Todays close at 13 was quite encouraging chartwise. LGND's momentum indicator (MACD) is turning up and looks like the start of the next up leg. The relative strength is strong, volume accumulation is positive, on balance volume is holding up, and stochastics are looking good. LGND is now doing a little better (performance wise) than the amex biotech and pharm indices. Many charts are trading horizontally and forming cup handle patterns. The market may pause some here but could explode upward one of these days. The put/call volume ratio (per IBD) is sitting at 0.53, a relatively low value. From a contrarians pt. of view that's bearish. The last time it was this low was late Feb. The market sold off till mid April when that ratio reached 0.83, -- the market bottom. I expect to see LGND continue upward now. Keep your fingers crossed for the 15 area. It could be achieved very quickly on strong volume. Bob Z reports the BOP is in the green zone, so all our indicators on LGND look good at present. Tonight I had lamb for dinner. Haven't looked at peanut butter in weeks.

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