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Biotech / Medical : Ligand (LGND) Breakout!
LGND 198.69+2.0%Dec 18 3:59 PM EST
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To: Machaon who wrote (19110)4/16/1998 8:45:00 AM
From: Henry Niman  Read Replies (2) of 32384
 
Bob, Biotechs are certainly still trailing the market and its pretty clear that some of the comments about recent trends (a January effect followed by a sell off beginning in February) have little relevance this year. There was no January effect and much of the sell off was really late last year. Thus, investors looking to rotate into a depressed sector, have to be keeping an eye on Biotechs. Similarly those who are using big Pharmas to benefit from the demographics offered by aging baby boomers should also be sizing up the relative value of Biotechs.

Last week, LGND of course was predicted to be heading for $14, as early as tomorrow. A few days ago I acknowledge that LGND COULD hit 14 in 1-3 weeks or it COULD hit 15 in the same time frame. This morning, before the open, LGND's ask has been raised to $15.

The ask of $15 is at the bottom of this page as well as a couple free services that have real time quotes. Of course some posters may think that such an observation is just "wishing" LGND higher, and of course the market doesn't open for another 45 minutes and things could change. However, at the present time LGND's move is clearly more in the direction of $15 than $14 (when I posted earlier this week, LGND had briefly dipped to 14 3/8).
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