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

To: aknahow who wrote (27682)	1/29/1999 12:30:00 PM
From: Henry Niman	Read Replies (3) \| Respond to of 32384

george, LGND trades at a modest volume and is rather complicated. If Tokyo Mex account for most of yesterday's volume of 940K, then I'm impressed. However, I suspect that there were at least four major categories of buyers yesterday. One was retail, who saw the Tokyo Mex rec late on Wednesday. One was retail who bought on the widespread rumor of upcoming approvals. A third was wholesale who bought large blocks at 13 3/16 and 13 1/4, in part because the price was moving on heavy volume, and in part to get in before the approval announcements. A fourth group would be those who bought for technical reasons.