Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 190.43

-0.7%

3:59 PM EST

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To: Clouseau who wrote (464)	1/8/1997 5:33:00 PM
From: Henry Niman	of 32384

Dave, Thanks for the reference. On June 30, I think Warburg Pincus was LGND's #1 fund holder (top 50 institutions and mutual funds can be found for any company at stocksmart.com). Yesterday I said LGND can't keep going up like this forever. I said the same thing a year ago and the same thing happened. I guess its time to say that LGND can't keep going down like this forever. Retail moved the price up, and thats what brought it down today. The big boys are still on the sidelines (there were only 2 big blocks of 10,000 each and the first 50,000 shares traded were by 70 executions). Sometimes the MMs dip the price to pick them up. Each notch lower was punctuated by a ton of 1000 share trades. They are too close together to see how many are buys or sells, but the last burst didn't move the price, so hopefully there will be a bounce tomorrow (even dead cats bounce). However, I don't put LGND in that category. There is still a good deal of good news to come and they're a slam dunk for the long term. MM's are still ready to rock 'n roll (which they did in the wrong direction today) and those that missed the quick move up now have a second chance. Yesterday LGND's accumulation distribution rose to "A". I expect it to be back at "B" and since its on the cusp, its rating will be a good indicator of what the MMs are doing (sometimes they dip the price just to pick up some big blocks). Henry

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