Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.84

+3.8%

Nov 24 3:59 PM EST

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To: Hippieslayer who wrote (15494)	2/20/1998 4:03:00 PM
From: Henry Niman	Read Replies (2) of 32384

FUGAZI, How soon we forget. Just to recall the background for the following post: Message 3306329 At the end of January, there was a 200K block at the high for the day (11 3/8). It was paired up with other large blocks at a slightly lower price. The other blocks added up to approximately 200K. Since LGND's price fell after that, someone suggested that the trades at the high for the day might actually be sells. Now someone seems confused when a similar pattern (on smaller blocks) is repeated today. The blocks are swaps, but since similar swaps were called SELLS when the price fell, it seems appropriate to call swaps BUYS is they are followed by a rise in the bid/ask. The above falls under the "don't fight the tape" command.

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