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

To: Lyn Benson who wrote (17202)	3/11/1998 12:27:00 PM
From: Allan Harris	Read Replies (1) \| Respond to of 32384

>She was not familiar with the fundamentals of the stock and was concerned about weak relative strength and negative daily momentum. Since you are familiar with the stock, do you share any of the same concerns? Not at all. Despite what traditional or classical relative strength and daily momentum measurements might be saying, LGND has soared close to 50% in the past six weeks. How can relative strength and daily momentum be considered anything other then explosively bullish? My highest and best technical analysis tool is simple observation. >Also, does the stock have to hold and close the 16.5 or just touch it to give the buy signal? Touching 16.5 today puts another X on the chart, one box above the previous high of 16 made February 12, thus the Double-Top Breakout. In P&F methodology, where LGND closes today cannot change that fact. >Also, can you give me the same analysis for the warrants, with stops? I really appreciate your input! I own both the stock and warrants, but would base any action I take on the stock movement, not the warrants. Accordingly, I don't keep a daily P&F chart on the warrants and am too lazy to create one for you now. As I recall, yesterday I suggested a target of 18 and a stop under 8 for the warrants, which should still be about right. Allan, King of France