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

To: Flagrante Delictu who wrote (14215)	2/4/1998 1:24:00 PM
From: tonyt	Read Replies (1) \| Respond to of 32384

You asked for my comments, I gave you my comments. If LGNDW can drop 20% while the stock rises, then the warrant is not a good investment choice. > Moreover, to tell our threadsters to not own something that can rise 20% in a day > ...appears to me to be doing a disservice to the threadsters. Give me a break. If you're telling 'our threadsters' to buy LGNDW because it can 'rise 20% in a day', then you are the one 'doing a disservice to the threadsters' BTW, have you forgotten that 'the very biotech stock they, Bear Stearns, Robby Stephens, Lehman Bros., Business Week Online, Jim Jubiak {sp} & countless others think has substantial upside potential' is down 40% from its recent high?

To: Flagrante Delictu who wrote (14215)	2/4/1998 4:01:00 PM
From: Michael Massimilla	Read Replies (1) \| Respond to of 32384

Actually LGNDW seems to be a safer investment than LGND. Assuming you buy the same number of shares, it costs less and you therefore have less to lose if the company falls apart, not to mention having less of your money tied up. The premium (about $1.75 right now) seems fair, given the leverage and the 2 years of time value. The downside is that LGNDW is usually fairly illiquid. If you want to trade in and out, you can still establish the position in LGNDW and trade LGND against it.