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Biotech / Medical : Ligand (LGND) Breakout!
LGND 188.97-0.6%Dec 31 3:59 PM EST
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To: Hippieslayer who wrote (24378)8/11/1998 6:14:00 PM
From: shasta23  Read Replies (3) of 32384
 
Fugazi!
I frankly admit that i was suckered into this stock a long time ago and really regret not having the clarity of selling the 17s in the beginning of the year. But i don't see this stock going to 5. Of course i can be wrong and if the bottom falls out of the general market everything is possible. i think that the bottom is somewhere here in the high single digits. I followed the stock a little more the last days and i just feel(without being able to prove it) that there is some interest at this price level. The behavior is different now than it was in the 12-14 region where the volume was very low which i attribute to general disinterest in the stock at these price levels. Now volume really picked up and is often around the average volume or above which i think is now accumulation and not distribution(imo). But that's just an opinion and the market will tell us what's right or wrong.
Let's hope that the market put in a double bottom today and that we see a more positive market tomorrow. If that's the case i assume LGND could trade back in double digits. Like i said i think that they tried to paint the tape in the end to make it look really bad. A more "realistic" close would've been around 9 1/2.

Stefan
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