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Biotech / Medical : Ligand (LGND) Breakout!
LGND 206.36+1.4%Nov 26 3:59 PM EST
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To: LLCF who wrote (27697)1/29/1999 5:29:00 PM
From: Henry Niman  Read Replies (2) of 32384
 
When I look at the data, I am not looking for daytrader buy/sell signals. Instead I like to concentrate on the large block sales. Frequently these trades define long term positions, while the retail trades can be simply noise. Of course retail can also move the price, but this movement seems much more erratic and hard to predict.

I think that two approved products and a profit will be attractive to many institutional buyers. I think that such buyers are more valuable than day traders who come and go. However, day traders can create some unusual situations that force institutions to act. I don't know exact who is actually trading, but call trades at 10K and above "big boys" and consider trades at the bid as sells and trades at the ask as buys. Of course this doesn't always have to be the case, but some interesting patterns can emerge using the above definitions.

In my simple view of trading, institutional buying is a good predictor of a sustained price rise. Although LGND's volume is moderate, it's still not that easy for large block to come and go without affecting price. Thus, I think that large blocks have a tendency to hold the stock longer than retail, and of course day traders have the least impact on a stable price.
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