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

To: Hippieslayer who wrote (15212)	2/17/1998 6:59:00 PM
From: celeryroot.com	Read Replies (3) \| Respond to of 32384

The last time we had a Gulf war the market soared

To: Hippieslayer who wrote (15212)	2/17/1998 8:36:00 PM
From: HerbertOtto	Read Replies (1) \| Respond to of 32384

<<Hence, until we get some real forward momentum with positive clinical news, new brokerage houses getting on the buy bandwagon, FDA approval, and earnings that are in the black (or any combo of the above), lgnd will most probably stay between the 12-16 range.>> A little reality check seems in order here. One recent biotech to look at is AGPH. The stock started its powerful uptrend from 30 to 100 (pre-split) after the filing for the NDA. The final pop was put in just after the FDA approval. Then when all the analysts had time to get their buy ratings registered, AGPH corrected back to 60. Then a nice, steady uptrend to 110 unfolded - not confirmed by volume. Then all the doubts emerged, and stock fell to 27 (split). Since then it has recovered to 38. The moral is as usual - the big gains are made 'climbing a wall of worry' - in this case between filing and approval. Once the stamp of approval is given, it is often time to take some profits. Most analysts are ambulance chasers. Often a cluster of rating upgrades by several analysts is the first alert to an impending top. The stock market remains a future discounting mechanism. With fundamentals being constantly evaluated by people like Henry, we have that glimpse into the future that we need to make the buy decisions - before the new analysts jump aboard. In this case we have even more. The CEO put 'NDA' etc. into print. With all the lawyers sniffing around, I believe we have our early warning 'buy signal'. Added to that are some huge volume up-days recently. I believe we have seen that 1st 'impulse' rally off the lows. If I'm wrong, I'll just have to wait a little longer than I had planned to see my LGND stock pass 100.<g> Some TA. LGND hit the upper 20% band the other day. It is now holding above the 20 50 and 200 day MAs . So far so good. Watch to see if it can fill in the little gap at 13 7/8 to 14. If it turns up first, and closes above 16, it would signify a powerful rally brewing. To get a sense of the power here, consider - last year it took LGND 2 months to go from the lower band to the upper band. And the volume was just moderate. This month, LGND went from the lower band to the upper band in just over a week! It should take some weeks of consolidating to prepare for the next move. The timing would be about right for the NDA filing announcement. Future discounting magic at work. Good luck longs, Herbert