NIFTY NINE IN NINETY NINE PLUS ONE Message Board

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Non-Tech : NIFTY NINE IN NINETY NINE PLUS ONE

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To: WWS who wrote (424)	2/17/1999 8:38:00 PM
From: Arthur Radley	of 613

I got a fax before the market opened this morning about the lawsuit, then about an hour before the close I got the second fax telling about the earnings shortfall. The stock had been in a slow decline all day but had stabilized around 8.00-8.50, and then the second fax hit and volume picked-up and before I could get an execution they halted the stock....the only thing I can figure was an order imbalance as the volume was zooming. I don't know the implications for ELAN/LGND or even if there might be one. This could be an isolated situation....I just don't known. Obviously, Elan thought they were getting a bad deal and decided to cut the ties....will it happen to LGND, I don't know. However, a precedent has been set as far as Elan and the actions they are willing to take. Maybe cooler heads will prevail tomorrow and I will be able to get out...looks like at a minimum I will take more than a 25% hit.(:<<)

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