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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: tdinovo who wrote (9969)	10/22/1997 2:44:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Ted, I think that they chose the Sept 12 closing date to honor the birth of this thread :-). P.S. I'm surpised that they didn't wait until today, the day of the 10,000th post to make the diabetes announcement.

To: tdinovo who wrote (9969)	10/22/1997 2:54:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Ted, The trading range may have been tight in the final 5 days, but it was pretty bullish prior to those finel five days. At the beginning of the 20 day period, LGND was at 12, so LLY must be thinking that LGND or its friends were the active traders :-).

To: tdinovo who wrote (9969)	10/22/1997 11:14:00 PM
From: lavalamp	Respond to of 32384

tdinovo, I'm not sure which came first ex or dog:> As you may recall, having the price stuck at 16 for all those many days, with the same mm holding the price down certaintly appeared then to be someone with a mission. We weren't sure then as to the motivation and I am still befuddled by it even with the additional information we now have. More may be learned upon future filings (maybe a biotech fund selling )and I will be interested in reading about it then also. I have been doing some reading about restricted stock ,but can not fathom LLY trying to hold the price down (1 dollar would only be 2 million...a lot to me but to LLY a drop in the old test tube). We should bring this up when 13 D's get filed. Keep your eyes open and I will also.

To: tdinovo who wrote (9969)	10/23/1997 1:48:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Ted, Check out the MM site: nasdaqtrader.com It allows viewers to see market makers, and block trades can be viewed seperately. If you are looking for someone holding down LGND's price to 16, TUCK is the most obvious MM. Their activity in LGND increased significantly in September and the influence is even more obvious in the block trades. They were #2 (between Bear Stearns and Merrill Lynch).

To: tdinovo who wrote (9969)	10/23/1997 1:58:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Ted, The site also allows viewing of different time frames. In 2Q TUCK did 51,000 shares (1% of total) in LGND block trading and it jumped to over 900,000 (15% of total) in 3Q.