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

To: squetch who wrote (14981)	2/13/1998 3:06:00 AM
From: Scusami	Respond to of 32384

I also noticed the 8/27 action you cited. My point and figure charts are pointing to the high teens area for the short term and the mid 20's for the long term (3 to 6 months). I still have all my LGND and added to it in the 12 area. I don't think this pull back will be too bad. Actually it will be good to see some backing and filling here. That will set the stage for the next run up. PS: I'll be in Sarasota, FL for the next two weeks on vacation.

To: squetch who wrote (14981)	2/13/1998 10:31:00 AM
From: Flagrante Delictu	Respond to of 32384

squetch, It appears the stock has made a classic explosive bottom with huge volume & a series of up gaps on the chart. It would indeed be a surprise if there were much giveback before substantial continuation. When tonyt & I were discussing the incipient H & S pattern that I thought was developing on the weekly chart, I indicated then to him that it was possible that his 12 could come before 20 without changing the implications. Take another look at the weekly chart tomorrow. Not only has LGND broken out above its' 200 day moving average, but also above its' 50 week m.a. Bernie.