Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Henry Niman who wrote (23397)	7/21/1998 4:54:00 PM
From: Wallace Rivers	Respond to of 32384

Henry: You've got a rosy explanation for just about everything that occurs in the price action of LGND, and, quite honestly, the return of LGND vs. the S&P has been absolutely awful. The "biggest boy" out there, and all they have been doing is selling, is Allergan, plain and simple. My explanation for this 33 k "big boy" trade is quite different than yours: MM takes stock in at 12.406 (i.e. someone is looking to SELL 33 k at that price, and the MM accomodates the seller). MM takes the offer price up to 12.625 (at which price he will gladly sell the 33k), trying to capture an increased bid ask spread of .625-.4056 = .219. .219 X 33,000 is real money ($7,227). Don't know whether the MM was successful, but that is the bear standpoint. This is not meant to downplay your knowledge of science, but you've got one tint to your glasses, and it's rose colored. It's kind of like when my golfing partner cards a 9 on a par 5 by sinking a 35 foot putt - he calls that s$%# on toast. LGND has that downward bias no matter how you spin it.