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

To: bluejeans who wrote (19866)	4/30/1998 6:49:00 PM
From: bob zagorin	Read Replies (1) \| Respond to of 32384

BOP increased nicely again today. it is now at top yellow level and another increase should take it into green. fwiw, i took another look at lgnd's performance over last 3 mos. as indicated by tc2000 charting program. BOP proves to be a perfect indicator here. it forecast the big up move and it has forecast the drift down to 14. the key thing that needs to be coupled with BOP to complete the equation is volume. BOP foresaw the up move but it wasn't until we got volume that the price took off from 11 to 16. as we gave back part of that advance (about 40%), the outstanding technical feature (IMO) is the lower volume. BOP never turned up any real selling but the enthusiasm slacked off and we just drifted. again, most of that consolidation was a lateral flying platform (worden's term) or flag type pattern (tony, i hope you're taking notes<g>). now that BOP has started trending up again, the only thing missing is volume. so, fwiw, i'll predict that as soon as we have a day where volume starts to trend up, the stock price will follow.