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

To: Henry Niman who wrote (22524)	6/19/1998 10:26:00 AM
From: Hippieslayer	Respond to of 32384

Thanks Henry. I think everyone will be happy when LGnd can start to get all their cylinders working in unison.

To: Henry Niman who wrote (22524)	6/19/1998 10:56:00 AM
From: JOEBT1	Read Replies (2) \| Respond to of 32384

Henry, et al---This is a very bad environment for biotech investments. With the market shaken by Asia problems and in particular the impact on computer technology company earnings, the technology stocks are leading the market down. At the bottom of the heap of technology are the biotech stocks which, currently, are viewed as the most speculative technology stocks. (Admittedly there is a slowly improving perception of biotech stocks.) One only has to look at companies like MLNM, AXYS, PCYC, ARQL, GLIA, XOMA, and LGND to realize that biotech stocks are in a bear market. So let's not beat management and each other around the head and shoulders too much. Traders of course recognize this--all the stocks above are below their 50 and 200 dma. Good news is quickly dissipated by traders selling short or weary investors giving up. We can take comfort in the fact that the bull cycle will soon return for biotechs as more and more drugs are approved. In particular with LGND we are witnessing the birth of a major pharma which will be recognized in the market sooner or later. I'm hanging in with a major investment in LGND for the long run---all other stocks in my portfolio are subject to selling depending on conditions. I believe we can be tranquil about LGND's long term success independent of market conditions (barring the collapse of world markets). FWIW-Good luck.