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

To: Henry Niman who wrote (14397)	2/6/1998 9:00:00 PM
From: Torben Noerup Nielsen	Read Replies (1) \| Respond to of 32384

Henry, >The initial move up was almost exclusively retail and almost every >trade was at or near the ask. After the price ran to 13 1/2, some >selling came in and there were several swaps by the big boys. There is one thing that is bothering me a little. There has been an awful lot of trading right around 13 in recent times and that leads me to believe that there is an overhang somewhere in there. Now, I do not know how long it will take to get that cleared out, assuming I am right about its existence. Neither do I know if it has been built up again during recent lows. I know that with some stocks, I trade spreads. That is, I decide what I think a good entry point is and then I sit around waiting for the stock to dip. When it does, I buy. And then I sell as soon as it is up a point or two. I like to make my pocket money that way (my wife won't give me any you see!). And it is conceivable that there are others doing the same thing. So the real question is how much volume we need to overcome that barrier. We might be just on the threshold for all I know.... If so, next week should be rewarding indeed. Cheers, Torben P.S. Time for me to return to listening mode!