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

To: Henry Niman who wrote (12249)	12/8/1997 5:58:00 PM
From: Proton	Respond to of 32384

Re: Support/Resistance Although the bid did fall to 13 15/16, it almost looks like the MMs are trying to keep the technicians out of the action (or at least the ones using your formula). Please go back and read my posts, Henry. 13'15 didn't get me kicked out of the "aggressive" trade I proposed. Also keep in mind that "my formula" would not have ridden the big boy trades down 30%+ during the extended fall decline. The problem with today's action is that, without follow-through, will look like a classic bull-trap (what technicians who use "my formula" really dread). The parameters for a non-confirmation of the move are 13'11 (just under today's low), 13 5/16 (just under the nice base of support at 13 3/8 which held for three days last week), and 12'15 (violation of the trading range at 13). Which one to pick depends on how lucky you feel. :-) On a trading basis, today's upmove is still intact, IMO. Furthermore, the uptrend from late November (12 1/2) looks sound, as well. Pý