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Biotech / Medical : Ligand (LGND) Breakout!
LGND 189.55+3.5%Dec 12 9:30 AM EST

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To: tonyt who wrote (16793)3/8/1998 5:08:00 PM
From: Torben Noerup Nielsen  Read Replies (1) of 32384
 
Tony and Henry,

Something to consider about the big boys.... They generally have their own personal traders who can sit at a Level II screen all day and they are perfectly capable of doing a big buy - or sell - in pretty small increments. The costs of a trade aren't that high and for someone expecting to make at least a few points, the difference in trading costs is negligible.

Big blocks can also result from brokers themselves trading for inventory. Overall, I find it hard to put too much into the size of a few large blocks. One big problem is that no matter the size of the block, there is always both a buyer and a seller involved. And presumably both think of the trade as a good deal....

Thanks, Torben
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