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

To: mason630 who wrote (20885)	5/15/1998 5:48:00 PM
From: HerbertOtto	Read Replies (5) \| Respond to of 32384

LGND up solidly on good volume against a very weak market! The old trader's saw, "It's not the news, but the market's reaction to the news", comes into play today. Earnings 35 cents vs 28 cents est., another FDA denial of another biotech's NDA, no 'hoped for' NDA announcement from LGND, DJIA -76. What does LGND do in response to all this? 14 7/16 + 5/16. Closed back over the 200 dma and the 20 dma. The way is now clear to 14 7/8 or 15 to the 50 dma next few days, then if volume stays ok, 15 3/8, then 16 1/2. It was a good day! OBV very strong now. Good luck, Herbert