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

To: tonyt who wrote (15775)	2/24/1998 1:53:00 PM
From: HerbertOtto	Respond to of 32384

<< enthusiastic posts 'cool' ..down >>. Yes. In fact, there probably is a correlation between LGND's price highs, and the number of enthusiastic posts per day. Last fall, when last near 18, I sometimes got the shakes being in the company of so many bullish 'companions'. The group psychology effect nearly kept me from selling. Only the TA saved me. Incidentally, the only warnings I got above 17 were these two: 1. Stock did not fill out the top of the trading bands - too many traders taking profits... not enough new money to compensate. 2. Volume slowed into the highs. I owe that lesson to Joe Granville and Mark Liebovit... students of volume / price relationships. Have you done a quantitative study of 'enthusiastic posts vs. tops'? Of course, that relationship will break down when our 'thread gang' is overwhelmed by the outside world - later this year (maybe next month). Just like all TA - sometimes they fail. Good luck, Herbert