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

To: bob smith who wrote (13951)	1/30/1998 11:37:00 AM
From: tonyt	Read Replies (1) \| Respond to of 32384

Vol on NASDAQ is counted twice. There was a 200k transaction, therefore 400k of todays volume was based on one transaction. We've been through this before at the 13 dollar range and the 12 dollar range; we're now discussing the same high volume activity in the 11 dollar range -- draw your own conclusions. As I said before, if all this buying is by the 'big boys', then they are no smarter than the rest of us (LGND in now off 40% from its recent 52week high) --Tony

To: bob smith who wrote (13951)	1/30/1998 12:07:00 PM
From: Henry Niman	Respond to of 32384

bob, As I understand it, the bulk of this mornings action came from the 4 trades that I listed. One was 200K at the high for the day and the other three added up to approximately 200K. Thus, if they were swaps, they add up to about 400k (200K is not counted twice, because if each trade on the tape were counted twice, then LGND's volume would have been over 800K this morning). The tape can be accessed in the financial part of home.att.net It shows the last 12 activities, so it was very easy to see the 4 trades if you happened to be watching LGND at the time. The trades are 15 min delayed, so after something happens in real time (LGND volume spiked up as did the price), the tape is like watching a replay.