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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Andrew H who wrote (10693)	11/3/1997 3:57:00 PM
From: Alper H.YUKSEL	Read Replies (1) \| Respond to of 32384

Andrew, I'm exactly in the same position as you. Highly margined and fully LGND. Any move below 13 before February, and I'll have to sell. By February, I intend to increase my position, if reasonable prices prevail. I'm afraid you'll also lose the third bet with Henry (I guess this was the one for $30 by Aug. 98). However, this is not to say that LGND will not go up. I believe that we'll go up with a slower pace. As I see it, the problem with LGND and biotech in general is that, as long as companies are in the R&D only stage, successful PR and a few friends in the media, does a much better job of pushing the stock than the underlying science or potential of the pipeline. And in that respect, I think LGND displays a poor performance. Which is, why I like this stock so much. I believe that it is undervalued and I also believe that the truth about LGND will emerge eventually. Bad news is, I expect this to take two to three years. Alper