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

To: N who wrote (13165)	1/9/1998 7:34:00 PM
From: celeryroot.com	Respond to of 32384

Finally an intelligent post on the bid/ask

To: N who wrote (13165)	1/10/1998 8:06:00 AM
From: Arthur Radley	Read Replies (2) \| Respond to of 32384

The issue of the bid/ask and whether or not trades are at either point is a very important consideration and in this months issue of the Individual Investor, Laszlo Birinyi has an interesting article on this issue. Birinyi is a well known financial consultant and one of the keys to his investing is that he watchs a stock as to everytrade and whether or not it is an uptick or downtick.The key to Birinyi is whether or not cash is flowing into or out of a stock. One example he gives is , suppose IBM's stock price is falling on numerous single trades of a few hundred shares each. But at the same time, a block of 10,000 shares is executed at the higher end of the bid-ask spread. The smaller sales may be dragging down the stock, but to Birinyi they are dramtically offset by the 10,000 share accumulation. This issue of II also has an interesting article a stock's volume.The major point of the article is be aware of low volume linked to a share-price increase as this is a negative sign.