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

To: Cheryl Galt who wrote (27175)	1/5/1999 8:18:00 AM
From: j g cordes	Read Replies (1) \| Respond to of 32384

Cheryl, here's my pontification on trading and conversation about trading which I've reiterated at various times. The market is by nature an environment that capitalizes on strength and weakness. This is a simple but profound understanding that evades novice and experienced traders. Since money can be made by making a stock rise or fall, strengths become weakness and weakness becomes strength. This also means that last years brilliant stategy will become this years weak link that others exploit. This in turn means that each of us will find ourselves at wits end sometimes, wondering why our "luck" or "grasp" of market direction suddenly goes sour. Just be confident that someone else is profiting on figuring out how to undo, or outdo, what we once did well. This is the case with Murphy. He had a winning strategy which may well again be a winning strategy some day. But the market figured his game and moved on to other methods of extracting profit. Murphy didn't move on. However, in his favor, he has an excellent grasp of the validity of concepts and business opportunities in medical and tech. He doesn't pick or run with the big obvious winners but likes to find up and comers and turn arounds... that's a patient game these days. Jim