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

To: Henry Niman who wrote (27683)	1/29/1999 12:43:00 PM
From: J Stone	Read Replies (2) \| Respond to of 32384

Henry, Please stick to commenting on science and avoid comments regarding who is trading and how. Unless one has access to NASDAQ info, the "who" comments are truly speculative. The facts are the volume the past few days has been very high. Given that there has been no new news, the trading itself may well be of people following the rumor mill. Upward price movements need to be sustained at moderate volumes or due to news of substance else the movements are tenuous. Having said this, I am encouraged by today's price stand on lighter volume. FWIW Jeff

To: Henry Niman who wrote (27683)	1/29/1999 1:01:00 PM
From: Mudcat	Read Replies (1) \| Respond to of 32384

< One was retail who bought on the widespread rumor of upcoming approvals> Henry, you have been spreading rumors of approvals "coming soon" for a few months now. And I would guess that since you put these rumors on numerous threads, many people have read them. This is not new news. So just because volume has been high the past few days, I am not sure why you automatically connect it to rumors of approval? I also agree with Cheryl that these pump and dump guys will drive the stock price down after approval (that is if we ever get approval) by selling.

To: Henry Niman who wrote (27683)	1/31/1999 10:55:00 AM
From: Roland Batson	Read Replies (2) \| Respond to of 32384

Henry, You stated, "Reply # of 27739 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." This is very astute. Would you also shed some light onto or as to, in these four referenced instances, WHY the other party sold? I do appreciate your scientific postings, but will also appreciate this response, as considering the "immediancy" of the "rumor of approval" I can not imagine buyers finding sellers at these bargain basement prices. I've been buying all the way down to 8 from 16 - I will not sell (any) till I see 16 again. Thanks, Roland