Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 181.46

-2.4%

3:59 PM EST

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To: tonyt who wrote (6593)	9/15/1997 1:45:00 PM
From: Henry Niman	of 32384

Tony, Thanks for the tape. It verifies exactly what I took from the Lombard chart. I really don't see any wall. The 15,000 share trade at 16 7/8 was at the full ask price. After the buy, the MMs drop the price to 16 3/4 by 16 13/16 and after a 9,000 share buy at 16 13/16, they raise the ask to 16 7/8, do one trade, and then bring it back down to 16 3/4 X 16 13/16, so retail thinks there is this "wall" and MMs are dropping the price to "stem selling". Sounds alot like your analysis of the heavy duty buying at the full ask price of 16 on Wednesday and the full ask of 16 1/16 on Thursday. This was a "bad sign" and today LGND ran to its 52 week high of 17. Keep up the good work. We need a few more proclamations on all the "bad signs" so I can collect my wine sooner than later: <<<< To: Henry Niman (761 ) From: tonyt Sep 10 1997 12:16PM EST Reply #763 of 807 > In spite of the heavy duty buying, the price didn't budge. Looks like there is still no shortage of sellers (otherwise the bid would have been raised). This is not a good sign henry.<<<< (bold added)

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