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Biotech / Medical : Ligand (LGND) Breakout!
LGND 193.07-1.2%Dec 3 3:59 PM EST
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To: jayhawk969 who wrote (24965)8/27/1998 10:36:00 PM
From: Torben Noerup Nielsen  Read Replies (2) of 32384
 
J.D.,

The West European equities are likely going to be ok. It is all of the East European ones that are cause for concern since they are not all that solid. Also, if there is political instability in Russia - and there really already is - then it will influence them negatively.

Our equities don't really appear to be in that bad a shape either except for somewhat excessive valuations. Nothing a good whack won't cure. Where I see real problems is with a lot of the really hyped technology stocks. Sure, some of them will do very well, but when you are looking at prices discounted 20 years into the future..... Biotechs can start to look like conservative investments!

By the way, I've been watching the Nikkei most of the day and despite and early tumble, it appears that the fall has been broken and that 14,000 might hold for the day. That's not necessarily a good thing. As I said before, it would be nice to get it over with and I think Tokyo is still overvalued. The Japanese government needs to get a few solid kicks in their collective derrieres; hard enough for them to wake up and realize things aren't looking so great.

Oh well, we'll see what tomorrow brings.

Thanks, Torben
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