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

To: Flagrante Delictu who wrote (18601)	4/4/1998 11:31:00 AM
From: John O'Neill	Read Replies (1) \| Respond to of 32384

Regarding LGND,s correction in a down market.. I think all stocks would fall in a severe market decline but the defensive ones should correct less. I'm beginning to think, these days, that biotechs (stong ones) may be grouped with the drugs as a defensive sector. So much has changed with the technology for developing drugs that these giant drug companies are becoming dependent on biotechs for their own survival. The ability to develop new drug is accelerating, and if a LLY or other large company didn't continue support their alliances with $, they could find themselves obsolete fast...just like a 286 processor chip. This might provide a support for stocks like LGND in down market.