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

To: tonyt who wrote (17641)	3/18/1998 8:34:00 PM
From: John O'Neill	Read Replies (1) \| Respond to of 32384

tonyt...what do you think of my trade out of LGND completed today at 16 3/8? I wonder what TA parameters would say is a buy point...If I have the chance to get back in?

To: tonyt who wrote (17641)	3/18/1998 8:48:00 PM
From: Brian Moore	Read Replies (1) \| Respond to of 32384

<< Don't lose sight of the fact that LGND is an excellent trading stock. >> Tony, I certainly have not lost sight of that. What we know about LGND is that due to the fact that they have no earnings, it's the press releases and articles that seem to catch people's attention and move the price up and down in the teens. Henry observed that LGND rose on rumors, hitting a high after a major presentation. But after that announcement it fell, he reminded us, from about 19 to 11 over some months. Another biotech a couple of days ago announced they found a cause of Alzhiemers (sorry about the spelling). Stock shot up 108% in one day. I think this is the kind of movement some LGND investors are hoping not to miss. Problem is, the next day it was down, down, down. Press releases are not the basis for sound, long term investment decisions. But good for those who like short term trading....