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

To: Hippieslayer who wrote (15476)	2/20/1998 11:14:00 AM
From: celeryroot.com	Read Replies (1) \| Respond to of 32384

Bernie where are you

To: Hippieslayer who wrote (15476)	2/20/1998 11:22:00 AM
From: Henry Niman	Respond to of 32384

FUGAZI, Finance is really out of my area. It is double witching today (options expiration), which may be related. However, one of our resident tape watchers has actually indicated that watching the tape is one way to tell if trades are buys and sells. He has suggested that trades at the full ask price, and high for the day are actually sells if the price drops shortly thereafter. Although I disagree, applying that logic to today's 30K swaps would suggest that they were BUYS because shortly thereafter, the ask was raised to 14 5/8 (the 30K swaps were at 14 7/16 and 14 1/2, which were the bid and ask prices at the time).