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

To: Alper H.YUKSEL who wrote (12379)	12/9/1997 2:51:00 PM
From: Andrew H	Read Replies (1) \| Respond to of 32384

>>I expected a breakout or a fall. It seems that we are having the second.<< I don't think so. Biotechs as a group have been falling. LGND has been showing a strengthening uptrend. With Panretin announcement soon, it should head higher.

To: Alper H.YUKSEL who wrote (12379)	12/9/1997 3:31:00 PM
From: Proton	Respond to of 32384

Re: LGND TA I agree that the compression in the 13.75-14.00 range signals a move to higher volatility. With this kind of volume, Henry's B/A analysis may be more valid, in this case. :-) There is a lot of positioning going on, and this action looks most anticipatory. Of course, trading ranges can be violated on both sides. :-O Based on the narrowing trade range and increased volume, I expected a breakout or a fall...It seems that we are having the second. Check the chart: anything between 13 3/4 and 14'3 (inclusive) is noise. That's why I placed the stop on my "aggressive" LGND long at 13'11. All is not crystal-clear at Lake Ligand, yet: the one-hour bar chart has put in a minor double-top at 14'3, and the follow-though from that pattern is a bit disquieting. On balance, the strength in today's market weakness, the fact that we held 13 3/4 (for now), and the volume still leave me tending towards the long side. BTW, I am not trading LGND at the present time. Pý p.s. One nice thing about being a development company: it sure limits the Asian exposure! ;-)