Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 202.50

-2.7%

Nov 7 9:30 AM EST

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To: tonyt who wrote (18925)	4/10/1998 12:20:00 PM
From: bob zagorin	Read Replies (2) of 32384

tony, i'll give you the benefit of the doubt and take your question seriously. lgnd moved from around 11 (feb.) to +16 in less than 3 months, a 5+ move or almost 50%. that move included a big gap in the 13 to mid-14 area. i think you know that, in many if not most cases, a stock price will retrace about half of a big up move and will often close a gap before starting upward again. in any event, it takes time to build a new base (all this is assuming no news event that changes the playing field). so the fact that lgnd has now spent about a month building a new base in the 15-16 area does constitute what worden calls a flying platform (a sideways consolidation without giving back much of the advance). if it holds here and sets the stage for a new advance when the NDA is filed it will be clear. if it weakens further and goes back to the gap, i will stand corrected.

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