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

To: tonyt who wrote (14469)	2/9/1998 9:11:00 AM
From: Russian Bear	Respond to of 32384

Tony, For the record, LGNDW is fully marginable. Therefore, you need a minimum of 50% cash (or equivalent) to enter a position, and a minimum of 30% equity for maintenance. On the other points, let's agree to disagree. RB

To: tonyt who wrote (14469)	2/9/1998 9:51:00 AM
From: Flagrante Delictu	Respond to of 32384

tonyt, For the record, I am principally a long term accumulator of LGNDW. My" trading" in them is principally limited to exchanging them for LGND & vice versa when the price relationship between the two gets out of whack. Consequently, it would be more accurate to say that I arbitrage LGNDW as opposed to" trade" them Bernie.

To: tonyt who wrote (14469)	2/9/1998 2:23:00 PM
From: Flagrante Delictu	Read Replies (1) \| Respond to of 32384

tonyt,<< 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 Our " long term investor" is a trader.<< This is a preposterous syllogism { I hope you understand the meaning of this entire word rather than only the last part of it}. Even if the Russian Bear refers to me & even if he also refers to the Black Scholes derivative pricing model, the conclusion, that Our {your capitalized spelling} "long term investor" is a trader ,does not logically flow therefrom because the "long term investor" has never been posited solely, if at all as Bernie . Additionally, I cannot recall posting that I "trade LGNDW". Please show us where I indicated that. You will please pardon that I could not resist this posting despite my stated attempt to try to resist such urges. And while I'm at it, I might as well respond to your assessment that the fact that I would attempt to refrain from disclosing your shortcomings to the threadsters was an admission that you were right. I find that as strange a conclusion as the conclusion drawn in the syllogism aforementioned. Bernie. ]