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Biotech / Medical : Ligand (LGND) Breakout!
LGND 194.34-0.9%2:40 PM EST
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To: JOEBT1 who wrote (17926)3/26/1998 4:08:00 PM
From: Russian Bear  Read Replies (1) of 32384
 
JOEBT1,

I don't think that it is quite so easy and/or common to manipulate the stock prices of issues, like LGND, with substantial floats. We should all continually bear in mind that market makers, contrary to the rampant paranoia over this issue prevalent on most SI threads (and I am not, by any means, singling out your post) are not in the business of stock speculation. They "make the spread," and are quite content to do so (I would be, too.) Most short-term price movements in stocks are "noise," not manipulation.

This thread, by virtue of greatly aiding in the process of information dissemination, actually contributes to the efficiency of the LGND market. Thus, I would bet that, at the margin, it diminishes (albeit slightly) the frequency and/or severity of the above "noise." I am grateful to Henry et al for their efforts.

Regards,
RB
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