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

To: Henry Niman who wrote (16336)	3/3/1998 3:21:00 PM
From: Flagrante Delictu	Read Replies (4) \| Respond to of 32384

Henry, >> I'm really not a trader. << Fortunately you don't have to be to notice that LGND seems to like to move in an almost relentless trend. The declines from 19 3/4 to 9 1/8, and, more recently from 18 3/8 to 10 7/8, seemed like waterfalls with almost unrelieved daily infliction of punishment. Similarly, the moves up from 5 1/2 to 19 3/4 and from 9 1/8 to 18 3/8 had a more pleasurable relentlessness to them. This current move from the low close{ down from 18 3/8 to the 11 low close on 1/29/98 }, has the same upside relentlessness to it. Specifically, after the first of back to back closes at 11 on 1/29 & 1/30/98, LGND has since had 11 higher closes, 6 unchanged closes & only 4 down closes. The gaps have remained unfilled & the relentless power is leaving in its wake those who seek weakness to cover their shorts and/or augment their position. With news around the corner, we should have a most interesting & rewarding March. Bernie

To: Henry Niman who wrote (16336)	3/4/1998 6:04:00 PM
From: HerbertOtto	Respond to of 32384

Henry, Thanks. Others made suggestions of different biotechs to trade. A few TA comments: The steady strength in LGND continues. Spreads very narrow. Patience and courage are in order now. BGEN and GENZ both surged again yesterday, 3-3-98. LGND has the strongest chart of any that I've seen. It is approaching the 20% upper trading band on the 50-day MA. We'll see how many short-term traders got back in after the sell-off following the 2-12-98 gap-up to 16. My guess is that not many short-termers got back in. That is one of the jobs of the market of course - to frustrate the most people. Watch for how much pull-back we get after hitting 16. That may be the last 'comfortable' buying opportunity - possibly back to 15 - 15 1/4. I'm hoping for the pull-back, as I have not yet filled my LGND basket. Yesterday I thought would get more weakness than the low of 14 7/8. Count me among the frustrated. Later today, my wife will ask me if we got the rest of the LGND stock today. No, but hopefully tomorrow. Good luck, Herbert