Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 203.18

-1.4%

Nov 28 9:30 AM EST

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To: Andrew H who wrote (11849)	11/29/1997 6:05:00 AM
From: HerbertOtto	Read Replies (1) of 32384

If we toss this back and forth a few times, perhaps we can help LGND bottom out. Murphy - at 9/10 is dangerously close to becoming a contrary- opinion indicator all by himself. But one wonders - can he keep up the record? I get twitchy when something gets to 90%. It just ain't that easy. I had the lesson first-hand in DIMD. Owned 3 DIMD graphics boards at home, and many installed at my office. I actually believed DIMD was becoming a 'leader'. Now I am simply jaded. A comment from Patricia Chadwick a couple years ago sticks in my mind; "We don't buy high tech stocks for our clients. High tech stocks are not suitable for investments. High tech stocks in the long run are all on their way to $4." My reference to Murphy's $125 on LGND was simply to raise the possibility of an investment target. Of course, LGND could go to $125 by way of $5. The Asia turmoil may help US interest rates to go lower. This in turn will aid biotechs as cash-burners. Soon the market will need fresh "USA isolated" meat to trade. Retail stocks should be headed down now that Thanksgiving has passed. Software and Business Services incl Y2K may continue. Maybe biotechs will get a play soon - BGEN is ready. Your est of FDA drug approval - mid 1999 - allows plenty of time for another rally and another collapse before a final advance. Referring to the AGPH model. Note the first run to 100 was associated with the filing. Then a 40% correction, and another run to 100 to greet the FDA approval. Then came a sharp sell-off on the news, and another run-up to the 2-1 split. All-in-all it seems there is plenty of time for technical trading in LGND before the RALLY. Taxes- Incidentally, mid-1999 timing is just right for the 18-month cap gains tax rule to benefit current buyers. Looks like we get to go to school on LGND. Tax selling should be mostly over this next week. Maybe this next rally will take LGND out of the 9-19 trading range. Good luck! Herbert

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