Stefan, OFF TOPIC MMs don't do pure swapping, they do impure swapping (IYWPTE), i. e., they sell to the"go along" buyer at 15.5, what they bought from the"go along" seller at 15.375.They usually have both orders in hand at the time on a" not held" basis. Whether they print the buy or the sell first is irrelevant.
If you noticed the testy nature of the postings today after a decline of around 2 points off the recent top, you will have an insight into what many LGND holders feel. They get discouraged by declines & have a tendency to sell into the bottoms of them, lest the stock go to zero. Then, after seeing a rise like the recent one from 10.875 to over 16, their courage returns & they buy back before the run to 40. The wise guys know that this is how the system works, & they facilitate the frustration of the public. When even those on this thread, who know something about LGND's potential, get sick of holding it, that is more often or not the time to buy.
We have traded at $13 in each year since '93. We are in a huge base building pattern. It is your decision to make, as to in which direction, we will eventually emerge from it. The base is of sufficient size & duration to support a magnitudinous move. IMO |
