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

To: Henry Niman who wrote (12241)	12/8/1997 12:01:00 PM
From: Proton	Read Replies (1) \| Respond to of 32384

Re: The Big One-Four PP, If you don't like the ask as an indicator, how about the bid? It's up to 13 15/16. That's still inside the trading range. I like to see it, but it doesn't communicate any more knowledge to my framework (which, I understand, need be no one else's). I would be extremely surprised if the Phase III Panretin data were not announced this week, which as you have noted, should trump any technical considerations. That would be welcome news. There are two primary technical factors of interest to me with any news event: 1. Is there a valid technical analysis of the security that anticipates the release of news? 2. What is the security's action once the news is released? In the case of new clinical results, the questions are: 1. Will we see a move over 14 before the release? 2. Will there be follow through to the upside after the release (a move over 15.50 soon after the news comes out is more positive than a move without fundamental support) Yes, "news trumps technicals," but the impact of news isn't always obvious (the ALRI overhang and the tepid response to the LLY deal). Technicals can tell you when the news is not as supportive to the stock as one might have guessed. BTW, I may ask you to use "P2" or "P"-<alt253> when you address me? A childhood of "Peter" jokes has sensitized me to "PP". {big grin} Pý