Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 186.64

-2.0%

Feb 9 3:59 PM EST

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To: Russian Bear who wrote (6745)	9/17/1997 1:15:00 AM
From: Henry Niman	of 32384

Actually, Tuesday's action on LGND was somewhat of a continuation of Monday's action. Before the open MMs raised the ask to 16 3/4 and it actually made it to 16 7/8, but the highest trade was 16 13/16. Trading then became very quite and MMs began dipping the price. Like Monday, after a moderate size buy, the MMs would drop the price. Once the bid fell below 16 1/2 some moderately active trading began to happen. However, the bid fell all the way 16 before the big boys showed up around 2:30. They started scooping up the retail profit takers and the ask rose to 16 3/8. Most interesting was the AGN activity. It was relatively quiet Monday and Tuesday. However there was a 100,000 share trade Monday afternoon. It really didn't affect the price althoiugh it was over 1/2 of the day's volume. I suspect that it was a buy because Tuesday morning the price began to drift south on light volume, but when the Big Boys showed up at 2:30 to buy LGND, AGN's price took off. It closed at 34 1/2 and the closing ask was 34 5/8.

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