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Biotech / Medical : Ligand (LGND) Breakout!
LGND 195.44-1.3%Jan 27 3:59 PM EST

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To: Alper H.YUKSEL who wrote (16134)3/1/1998 4:57:00 PM
From: WTDEC  Read Replies (2) of 32384
 
Torben and Alper,

Enjoyed your discourse on efficient markets. Would only add that I think markets reward only risk takers and providers of liquidity (other than illegal manipulation or use of insider info.). By risk takers I mean those who are at the forefront of information on a particular company and are willing to take the risk that, based on the information, things will play out in a particular way (good if you are long, bad if short) for the company. I think this is why a great thread like LGNDadds value....we have leading edge information and are more comfortable with how things will ultimately play out. I was a LGND stockholder long before I found this thread, but since following the thread, I've felt even better about LGND and have, consequently, added to my position

Providers of liquidity include MMs who provide it on a daily basis, but also other investors in tune with technical situations which cause temporary aberrations in supply or demand. Many feel the so called January effect is an example as year-end tax loss selling (based on investor tax situation not having anything to do with the company fundamentals) ends and reinvestment begins.

Sorry if this all sound like a lecture...

Regards from the guy in the middle (Turkey-NJ-Hawaii).

wtd
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