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

To: jayhawk969 who wrote (17544)	3/17/1998 7:47:00 PM
From: Flagrante Delictu	Read Replies (1) \| Respond to of 32384

J.D. Re: the spread between LGND & LGNDW.The selling pressure on the warrants seems to have abated. The current relationship between the 2 is much appreciated by current warrant holders. But the warrants are not as attractively priced now vis-a-vis the stock as they were a few days ago, when you could have bought them for 6 1/4 less than the stock. This is not to say they are currently unattractive. They were more so relative to the stock when I wrote about them being underpriced relative to the stock. However, that is not the only relationship worth considering. For those who have the seeming skill of tonyt in short term trading,the most important consideration is whether the stock has stopped declining. When this decline ends, the warrants will almost certainly be a better buy than the stock in terms of a larger % increase per $ expended, every thing else being equal {ceteris paribus]. Bernie.