I guess time will tell...LGND will have to go into the history books as the world's longggggesssttt breakout. Right Henry? If you don't use a broker, you might want to look into some good books on TA to help you with your entry and exit points of stocks you research yourself.
As to my broker, no he did not "put me" into AMLN, I use both a full service broker and on-line trading, and AMLN was one of my online trades, when I bought the stock, I jumped the gun because it too looked like it was on the verge of a breakout, but all that happened was it made a new high then retraced, remarkably similar to the way LGND is trading now, BTW. That is why I am extremely cautious before taking a position in LGND until it can convincingly break thru this resistance level.
I do not have a AMLN vs. LGND mentality as you seem to have, I simply look at which investments (perhaps both) has the best looking chart and fundamentals. Fundamentally both stocks seem to have rotten financials, their cash burn rate is pretty astounding, typical of non-profit making pharmaceuticals. So until either one comes to market with a profitable drug, imho, these stocks should be traded on the technicals. If you think LGND is another AMGN, great, but I can assure you that lot's of people waited until AMGN was producing before getting in and made excellent profits without taking the substantial risk.
Since you think the discussion on the technical merits of the stock is a waste of time, I won't be offended if you don't respond to this. I've used your post to respond because apparently based on some of the email I've received from long-suffering LGND holders (you know, the ones that bought during the last "breakout") some are indeed interested. Good luck to you, too! bp |
