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

To: Henry Niman who wrote (14127)	2/3/1998 4:16:00 PM
From: Russian Bear	Read Replies (3) \| Respond to of 32384

Henry, I am afraid that the last ten minutes of trading saw about 130,000 (!) LGNDW change hands. It has to be Farallon unwinding. The bid is now under $5, and therefore, LGNDW just lost margin status on Datek, and possibly with some other brokers, as well. That is not good news for those of us, like myself, who have a large, and leveraged, LGNDW position. I am still okay, but I suspect there will be those who have margin calls to answer in the next few days. Ligand warrants are now a truly remarkable bargain. Would that I had the cash reserves to take advantage of it.... Regards, RB