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

To: B.D. who wrote (21453)	5/28/1998 1:01:00 AM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

B.D., I think that heavy doses of Regretin are being served up by the MMs and we may get a bit more tomorrow (a small move to convince the Nervous Nellies that something is wrong). It would be nice if someone could upload today's tape. I didn't get a chance to look at the trades carefully, but did notice that several large block trades at the ask were followed by a LOWERING of the bid/ask. Yesterday, after the close a 30K buy was chopped into 3 trades, each at 9700. My interpretation is big boys trying to sneak on board, coupled with MMs dropping price to shake out weak hands. A lack of a jump tomorrow could serve up some regretin, big time. We will see, but I think that the MMs are using the NDA filing and ONTAK approval to clear out the weak hands in preparation for a major move north.