Henry,
You stated, "Reply # of 27739
george, LGND trades at a modest volume and is rather complicated. If Tokyo Mex account for most of yesterday's volume of 940K, then I'm impressed. However, I suspect that there were at least four major categories of buyers yesterday. One was retail, who saw the Tokyo Mex rec late on Wednesday. One was retail who bought on the widespread rumor of upcoming approvals. A third was wholesale who bought large blocks at 13 3/16 and 13 1/4, in part because the price was moving on heavy volume, and in part to get in before the approval announcements. A fourth group would be those who bought for technical reasons."
This is very astute. Would you also shed some light onto or as to, in these four referenced instances, WHY the other party sold?
I do appreciate your scientific postings, but will also appreciate this response, as considering the "immediancy" of the "rumor of approval" I can not imagine buyers finding sellers at these bargain basement prices. I've been buying all the way down to 8 from 16 - I will not sell (any) till I see 16 again.
Thanks,
Roland |
