Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 194.34

-0.9%

2:40 PM EST

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To: Arthur Radley who wrote (7974)	9/29/1997 12:12:00 PM
From: J.T.	of 32384

TexasDude, I'm back after a small sabatical. Here is one comparison to look at re another pharmaceutical co similar to LGND and its current trading range. The company is IMNX. From a technical standpoint, if you look at IMNX chart in early Dec 96 it was trading in a flatline btw 13 1/2 and 15 area. This trading range actually goes back to Oct. News, or impending news came out in mid Dec and the stock shot up to 19 1/4 area and settled again. The stock worked its way to 22 area by end of Jan and by Mar 10 hit the 33 area. Here's my point. The MM's know that the longer they can hold this thing back, the more shares they can pick up from the weaker hands. Moreover, they know all those people who bought earlier in 96 btw 17 1/2 to 19 1/2 are trying to "get back to even". If they simply let the floodgates open and buy all the shares they can now, some of those who bought at the 17 1/2 to 19 1/2 shareholders might not want to part with their shares. Once the price gets through 19 1/2 on a close, the stock will move up hard and fast. Take a look at IMNX price for an example. Be patient, and you will be rewarded. JT

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