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

To: Wallace Rivers who wrote (24204)	8/8/1998 8:45:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

I was asking for your interpretation of "why" the trade went off at 10 1/4, not what you thought of the trade.

To: Wallace Rivers who wrote (24204)	8/8/1998 9:55:00 PM
From: tonyt	Read Replies (1) \| Respond to of 32384

>What do I think of the 7900 shares that went off at 10 1/4? If the stock goes >higher, it was a good trade, substantially higher, a great trade. Lower, a not so >good trade. Didn't LGND have some 'not so good after hours trades' last week? Here's something to consider: All stocks that really trade after hours (i.e. MSFT, DELL, etc (these are examples I don't mean to imply that these are the only two stocks that trade after hours, gotta be sooooo careful in what is said) ) also trade before the open. When was the last time LGND traded before the bell? These 'after hours' trades are MM adjustments. For all we know, the 10 1/4 could have been cancelled. --Tony

To: Wallace Rivers who wrote (24204)	8/8/1998 10:01:00 PM
From: Henry Niman	Respond to of 32384

Wallace, LGND trades after the close and before the open. Trades before the open show up on the volume, but don't affect the high, low, or opening price. On friday, Jan 31 I had noted the 5900 shares traded before the open: Message 5371573 Message 5371690 Trades that are cancelled are marked as such and have a red line through them. Sounds like someone else could use a primer on reading tarding data. Like I said, for someone who can't read trading data, it's rather curious as to what his many price projections are based upon.

To: Wallace Rivers who wrote (24204)	8/8/1998 10:22:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Wallace, To help you out with your quote.com graph reading, go to: quote.com and put AMGN in the symbol box. There you see that after hours trading went until almost 5:00. You will also see that cancelled trades are marked "xcl", have a red line through them, or both. The 7900 share of LGND after hours trade at 10 1/4 has no such markings. It is listed as frmT, as are all of the other after hour trades for LGND on Friday. Moreover, these after hour trades do cause the volume to increase (as do the before hours trades), further demonstrating that they are not cancelled orders. I guess some just continue to make up stories. I wonder if they think that anyone truely believes what they are throwing up on this board.