Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 203.99

+2.4%

11:02 AM EST

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To: Alper H.YUKSEL who wrote (25752)	9/24/1998 4:41:00 PM
From: Michael Massimilla	Read Replies (1) of 32384

Good thought, but in practice it's very difficult to judge the bottom. I originally bought some LGNDW at $6, bought some more at $7 on the way up to $10 (feeling pretty good there), sold a little when it dropped to $9, and then watched as it started dropping more. On the way down I bought a little more at $7, some more at $5 1/2 (where the chart showed a lot of resistance), and some more at $4 1/2 (surely a bottom there). I never figured it would drop to $1 1/2. At that point I already had all the LGNDW I was willing to buy and was contemplating the June 2000 expiration which would make LGNDW worthless at the prevailing stock price. What I learned is that biotechs are very risky and their stocks highly volatile to begin with, and when you play with warrants on them besides, you are in for a roller-coaster ride that might not have a pleasant outcome. A more sensible approach is to take a modest position in the stock. Given the risky nature of the biotech business, it is best to take a cautious approach to investing in it.

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