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: celeryroot.com who wrote (24161)	8/7/1998 10:16:00 PM
From: jayhawk969	Read Replies (2) \| Respond to of 32384

Celeryroot, This kind of action makes one wonder what is really happening. The fundamentals of LGND have not changed. Lgnd shares deserved to go down with the market and the biotech catastrophe. However when one sees Ligand drop precipitously on low volume and then trade in a narrow range on high volume, one starts to wonder. I am the first to admit that I do not thoroughly understand the entire trading mechanism, however, if anyone has any insight into what is happening beyond what Celeryroot is posting please speak up. Anyone with Level II screens that differentiate the market maker bid/asks/trades? Did someone offer to buy a large number of share but only at 10 or below? Did the MM's then take the price down? Possibly with the assistance of Allergan shares to drive it lower on low volume? If so why not a private sale? Maybe it would not stand market scrutiny? I am truly perplexed? J.D.

To: celeryroot.com who wrote (24161)	8/8/1998 4:46:00 PM
From: Henry Niman	Respond to of 32384

Celeryroot, I agree with your analysis about a big boy stepping up to the plate. However, I believe that it started in the middle of last week, although at a slightly lower level (blocks of 10k to 17.7K) which were actually being bought after the close: Message 5363363 which of course our famous naysayer interpreted as selling: Message 5362360 These buys after the close show up on an intraday tape (as can be seen for this past Friday quote.com and the Wednesday before Message 5370539 ), but they are not seen in a historical chart. This week, especially on Friday, the big boy buys were markedly bigger (41K to 50K blocks) and they were very hard to miss on Friday when volume topped 600,000 shares and the size of the average trade was 2,438.