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Biotech / Medical : Ligand (LGND) Breakout!
LGND 208.29-0.3%3:59 PM EST
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To: Bryce Elkins who wrote (18702)4/6/1998 3:26:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
So far today's action has been heavily retail. The bid has hit 15 1/4, but volume is under 150K on about 230 trades. The size of the average trade is just over 600 shares which is very small. Maybe some did view the Tamoxifen data as a negative, but I think that the MMs are clearing out some of the weak hands. I did notice that today's IBD showed an accumulation distribution rating of "A", so it's probably time for some to take profits.
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