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

To: Russian Bear who wrote (14466)	2/9/1998 8:06:00 AM
From: tonyt	Read Replies (3) \| Respond to of 32384

> (rather high) bid-ask spread on LGNDW twice, once to enter at 6 (not 5.625) and > again to exit at 6.75 (not 7.) Re: bid-ask spread -- another reason not to buy LDNDW. My model bought at the ask and sold at the bid. I'm suprised that you have a problem with this. I still need you to confirm what % your broker gives you to margin LGNDW, 50% or 30%. (Must be 30% since 50% conveniently meets your purpose) > (highly artificial) example Highly artificial? If you try to sell at the ask (as bernie suggests), it is. > The warrants are not as liquid as the stock. That is a given. > Therefore, they makean inferior trading vehicleOur "long term > investor" is not a trader, right? Well, you keep referring to Bernie, who has told us he trades LGNDW, and you keep saying that B-S is the right pricing model, so it seems you think that Our "long term investor" is a trader. Anyway, for both trader and LT Investor, you must use the ask to buy and the bid to sell. BTW, my model was based at the time when bernie requested that I post my proof, you are now trying to make your case by using the previous days price since it conveniently meets your purpose.