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

To: Henry Niman who wrote (20422)	5/11/1998 12:34:00 PM
From: bob zagorin	Read Replies (1) \| Respond to of 32384

i hesitate to respond to tony (who may not understand or, just possibly, is trying to obfuscate) but for others who may wonder about "BOP" here's some short context. BOP is a proprietary indicator that is part of the Worden TC2000 charting package. The program has all the standard indicators but it has 2 that I value - "Moneystream", a short term money-flow type indicator; and "Balance of Power" which tracks accumulation vs. distribution or, if you will supply vs. demand. It is not always accurate and needs to be seen in context but it has been very accurate for LGND. Also, it is not always a leading indicator; sometimes merely confirming. BOP predicted and confirmed the big move up from 11 to 16 by solidly showing the underlying accumulation. As we drifted on lower volume from 16 to 14, the BOP gradually slid from solid green down thru yellow to neutral..a perfectly normal lateral consolidation. It never showed any kind of selling pressure; just a lack of buying enthusiasm. It has now moved back up thru the yellow and on Friday was showing green again. If things work as in the past, any significant volume will now move the price up. BTW, at the request of two member of this thread, I've been posting any significant change in BOP for the last 2 mos. I've also emailed the text file detailing how the indicator works to several who emailed me. That's easy to do as I use my real name and my email is on my profile (unlike a couple of nay-sayers i can think of). PS. as always, technical indicators will give way in the face of significant positive (or negative) news.