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

To: shasta23 who wrote (18787)	4/7/1998 12:34:00 PM
From: Henry Niman	Respond to of 32384

stefan, I think that the "follow the tape" rules are frequently in error. Do you know the price that your "sells" went off at and what the bid and ask was at the time? Earlier this morning two 10Ks went off within a minute of each other and one was at 15 1/2, the high for the day. Usually when two large blocks go off within a short time frame, they are just swaps which are generally very easy to digest. The MMs may drop to price to find a common ground between buyer and seller. Assuming that they were both sells is a major assumption. When the price "sank" after the two trades, how low did it go and how long did it stay there?

To: shasta23 who wrote (18787)	4/7/1998 12:39:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Stefan, I just looked at LGND's 1 minute chart. It looks like you are talking about a couple of trades at about 11:00. It's easier to read the tape than the chart, but it looks like the trades went off around 15 and 14 7/8. After that the price "sank" to 14 3/4 and it looks like there were a few very small trades at that price before the price returned to the 14 7/8 X 15 range. Why do you think that those trades were both sells?