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Biotech / Medical : Ligand (LGND) Breakout!
LGND 206.36+1.4%Nov 26 3:59 PM EST

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To: Henry Niman who wrote (14203)2/4/1998 11:00:00 AM
From: Russian Bear  Read Replies (1) of 32384
 
Thanks for the link to the MM's, Henry. I hadn't visited that part of your **superb** site, before.

Out of curiosity, do you know what the distinction is between registered and unregistered (the ones with an asterisk) market makers?

I noticed that Datek (one of my two brokers) is an unregistered MM for LGND and LGNDW. They were pretty quick to withdraw margin status for LGNDW yesterday, when the bid dropped below 5 (in keeping with their stated policy.) Curiously, Datek also makes a market in BROC, my other much-too-large position. The reason this is interesting is that, last week, BROC became fully marginale on Datek, despite the fact that it was trading at 4.75 by 4.875. I wonder whether this seeming inconsistency merely reflects Datek's internal inventory, or could there be something else at work here?

Thanks again for the "Links to Ligand" website.

Best regards,
RB
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