No, you link to the full path of the executable, not the directory. If you have a program called "netscape" in a directory called "/usr/local/netscape" you would:
# ln -s /usr/local/netscape/netscape /usr/bin/netscape
Notice there are two occurances of netcape in the first path, one is the directory, one is the name of the program. You are trying to execute the directory, which of course isn't going to produce the results you are looking for.
[ October 10, 2002: Message edited by: void main ]