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

To: shasta23 who wrote (17507)3/16/1998 7:44:00 PM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
Stefan, I don't think that the intraday chart upholds your analysis:
fast.quote.com
Look at the trades between 10:00 AM and 12 noon.
Although the price fell early (on very little volume), the vast majority of the trades were going off at the full ask price (15 3/4). Although others have discounted triple (double?) witching on Friday, LGND has had a tendency to drop just before the expiration of options. As I have said in the past, I consider options another form of legalized gambling.



To: shasta23 who wrote (17507)3/16/1998 8:00:00 PM
From: tonyt  Respond to of 32384
 
>since there were so many sellers competing for the buyers the price dropped
>....i guess that how it works.

Thats exactly how it works.

BTW, options expiration in 4 days doesn't seem to be slowing down the market - WSJ: "THE DOW INDUSTRIALS rallied 116.33 to 8718.85 on Monday, topping 8700 for the first time. The Nasdaq composite added 16.52 to 1788.18, while long-term Treasury bonds climbed one-half point."


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