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

To: Machaon who wrote (23500)	7/24/1998 9:41:00 PM
From: bob zagorin	Respond to of 32384

there are some real reasons why lgnd is drifting down right now. one, of course is the allergan overhang and, for all we know, they will knock the top off every rally for awhile. there's also the general market nervousness and desire by many to have their money in liquid big caps. i think that will prove to be a mirage as, there's lot's more big co. shares that might get dumped in a serious correction. but, i think we'll get our payday on lgnd before too long. i've patiently held my postion in psix, a backbone ISP, while the market concentrated on it's inability to make a profit. now, the market has discovered it and is focusing on top line growth, customer metrics etc. all of a sudden, a stock that was knocked down below 5 in december is selling for $20 and the upgrades are coming with 3-4 in the last couple days. it won't be long before the market starts looking at lgnd as a pharmaceutical co and not an esoteric biotech.