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

To: JOEBT1 who wrote (17926)	3/26/1998 3:49:00 PM
From: Flagrante Delictu	Respond to of 32384

JOEBT1, The market should be bigger than the mms & traders. Therefore, it shouldn't make a difference. Firstly, what info is revealed here is already public information. If it weren't, who would believe it? Any mm or trader can keep abreast of the public info, if he makes the effort. What we have to say here is ex post facto {after the fact}. It shouldn't affect the markets. You discount the motivation & ingenuity of the mms. & traders, if you think otherwise. Most of the players who rely on this or other threads do not do sufficient volume to rock the boat, imo. Bernie

To: JOEBT1 who wrote (17926)	3/26/1998 4:08:00 PM
From: Russian Bear	Read Replies (1) \| Respond to of 32384

JOEBT1, I don't think that it is quite so easy and/or common to manipulate the stock prices of issues, like LGND, with substantial floats. We should all continually bear in mind that market makers, contrary to the rampant paranoia over this issue prevalent on most SI threads (and I am not, by any means, singling out your post) are not in the business of stock speculation. They "make the spread," and are quite content to do so (I would be, too.) Most short-term price movements in stocks are "noise," not manipulation. This thread, by virtue of greatly aiding in the process of information dissemination, actually contributes to the efficiency of the LGND market. Thus, I would bet that, at the margin, it diminishes (albeit slightly) the frequency and/or severity of the above "noise." I am grateful to Henry et al for their efforts. Regards, RB

To: JOEBT1 who wrote (17926)	3/26/1998 4:25:00 PM
From: Machaon	Read Replies (1) \| Respond to of 32384

<< If so, then we ought to stop feeding them real time info on what is coming out of LGND >> Even if your thesis is correct, it would be easier to stop the wind than to stop the free, and some times turbulent, nature of this thread. Regards, and good luck, Bob

To: JOEBT1 who wrote (17926)	3/26/1998 8:04:00 PM
From: Henry Niman	Respond to of 32384

JOEBT1, I think that the more that is known about LGND, the better it will do long term. I think that the posts on this board have almost no effect short term. LGND's oscillating pattern, small spread, and modestly high volume have attracted the interest of traders as well as technicians. They buy and sell on a somewhat predefined set of parameters and the long term buyers probably do a fair amount of DD. I use the thread to educate investors on the science and I try to clarify some misleading posts. I should probably just stick to the former, but sometimes the misleading quotes are just too much to ignore (although I realize that answering them directly or indirectly probably does little to help).