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

To: tonyt who wrote (24997)	8/30/1998 7:40:00 PM
From: Tommy D	Read Replies (1) \| Respond to of 32384

The technical analysts can probably answer this but haven't we been in a "bear market" for some time. I base this on the Russell indexes which have been down in bear country for some time now. Russel 2000 for example is not only down a little less than 30% from its highs but is significantly lower than what it was 12 months ago at this time. In some respects the results have been like a chinese water torture, just dropping continually since May of this year. However, the other thing that struck me is that we had such a steep drop on all indexes this week. I read that it is neccesary to reach a climax in the selling frenzy, particularly in the blue chip stocks before moving out of a bear market. Was the type of selling of that level or do we have to get hit even further. I lived thru 1987 and this week certainly wasn't as bad from my perspective but it sure seemed a lot tougher on others that I know. TommyD