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

To: WTDEC who wrote (16092)	2/28/1998 7:22:00 PM
From: CYBERKEN	Read Replies (2) \| Respond to of 32384

I'm currently holding only LGNDW (a very large position) in the sector, because I needed capital for some other opportunities. I agree, however, that-having found some companies in biotech that you are convinced are great long-term prospects, you shouldn't trade completely out of them. I have 4 or 5 other biotechs that I'm hoping to get back to before they begin to move toward what I consider a more reasonable valuation. Once back in, I wouldn't expect to be out for many years.

To: WTDEC who wrote (16092)	2/28/1998 8:44:00 PM
From: Andrew H	Read Replies (1) \| Respond to of 32384

>>IMO, the nature of investing is such that a good deal of the upside move in biotechs will already have taken place before it is clear that interest has picked up. For example, it looks like interest is picking up in LGND, but it is already up << That may be true of individual companies, but less true I think of the group as a whole. For example, I would say a solid break above 325 on the IXB could be considered as the beginning of a biotech rally. Of course with the market, no one knows.