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Biotech / Medical : Ligand (LGND) Breakout!
LGND 206.37+1.9%11:40 AM EST
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To: jayhawk969 who wrote (23722)7/30/1998 8:47:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
JD, I hope that you are not expecting a rational response from our famous naysayer. As I have said many times before, even their hindsight is far from 20/20.

Yesterday's trades at $12 at the close are a great example. They have been called sells and out of sequence trades (by guess who). Yesterday, our famous naysayer reminded the thread when LGND's price fell to 11 1/8 in the early afternoon. Near the close, volume picked up markedly (it went from something like 65K to 115K in the final minutes) and the price ratcheted higher. The site that I linked showed the last 12 activities. Trades at the high of the day (they are listed in green) were the rule. Just before the close, the ask moved to $12 (its high of the day). There was one trade before the close (and therefore LGND closed at $12) and two more just after (one of which was 17.7K and both were for $12). Why anyone would call these trades sells (when they were at the high for the day) or out of sequence (quotecom marks out of sequence trades and these were not marked as such) is absurd. Within a few minutes of the ask moving to $12, there were three trades at $12. Why in the world would these be "out of sequence" (the only time that LGND's ask was $12 was at the very end of the day).
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