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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (30696)	2/10/2000 7:58:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

DOW second close below 200 days ma today will give a bad signal to the old economy, Brkb already making new lows, most likely if DOW is unable to break above 10880 we may see a 10660 break leading to a new lower channel, the impact on NDX which is 8% higher for the year will not be good and I would assume that SPH will most likely go and test the area where we have a lot of gaps in 1320 1340 area that would only if we are unable to break this 200 days resistance on top.. I will like 1418 suport to be maintained and 1435 ideally to be taken out today for this trend to remain unbroken otherwise in last three months a second attempt to take out 200 days ma needs a lot of caution...a break of 193 on QQQ will lead me to add some 170 long QQQ puts.. SOX PSE DOT are key indexes to watch so is BKX 700 support..http://quote.yahoo.com/q?s=%5Ebkx&d=3mm

To: IQBAL LATIF who wrote (30696)	2/10/2000 5:04:00 PM
From: Rupsky	Respond to of 50167

Ike, you are uncanny: 1/03/00 Ligand Pharmaceuticals Incorporated (Nasdaq:LGND) announced today that on December 31, 1999, Elan Corporation plc (NYSE:ELN) converted the zero coupon convertible note issued August 31,1999, with an original issue price of $20 million and convertible at $9.15, into 2.4 million shares of Ligand common stock. Ligand will recognize a one-time charge, arising on the conversion, of $2.2 million in 1999. Giving effect to the conversion, Ligand has $80 million in original issue price zero coupon convertible notes still outstanding that are held by Elan (convertible at $14 per share). After the conversion, Elan's ownership in Ligand is 9.8% on a primary basis and 17.0% on a fully diluted basis. LGND today jumped to almost an all time high of 18 15/16. ELN should be all the more attractive now. All the best Ullrich