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

To: Henry Niman who wrote (27916)	2/6/1999 10:44:00 AM
From: tonyt	Read Replies (2) \| Respond to of 32384

>The major shakeout that I predicted at $16 was a bit more major than I expected, >but I consider a price drop from $16 to 5 1/2 as a MAJOR shakeout, which I was >expecting, but not quite as severe as had happened... Any reason why you failed to share this with us? Don't tell me that this is what you meant when you said that the MM's were shaking out the weak hands last year. If so, then you did us all a great diservice, as anyone who was really expecting a "MAJOR shakeout" would have sold with the expectation of buying back later, yet I don't recall you ever giving any indication that you expected a "MAJOR shakeout". Don't try to re-write history henry, the comments you made last year are still here on SI. >...(and I also expected the price to rebound after the shakeout, which >of course it did, rather sharply). You predicted the 'rebound' on every tick down to $6, you never gave any indication that you were 'predicting' what occured last year. To suggest to this thread now that you 'predicted' what happed last year is absurd. >I gave my guess as what the MMs would due after the approval, based in >part by the fact that it appeared that many day traders had bought LGND in >anticipation of the approvals that came this week. henry, when someone stated that 'day traders' were in, your immediate comment was that you doubted that Tokyo Mex had that big a following and that it was the "Big Boys" who were buying, not the day traders. I don't recall you changing your position on this. > I have never indicated that the MMs actions to find buyers and sellers was >in any way sinister, that's just the way things work. You have stated in the past the the MM's were doing a shakeout of weak hands, and recently stated that they were shaking out the sellers. If they are indeed doing what you are suspecting them of, then they are engaged in illegal trading activities (and I'm sure that they are not). I suggest that you read-up on what the MM's function is. >Discussing LGND's price with you is absurd, because you think than that LGND's >price has gone down since the drugs were approved, when in fact the price has >gone up (slightly overall, but hitting $13 on both days that the approvals were >announced). You are confused. I never said that LGND has gone down since thee drug was approved, I said it was down over 5/8's from Mondays open -- which it is. (btw, its ususually a tip-off when you are misquoting me when you don't provide the link to my comment). Also, if you check the tape, LGND never hit $13 on the first approval. The ask may have been as high as $13, but the highest buy that day was 12 3/4's. (see Feb 3rds high: tradepbs.com ) It appears that discussing LGND's price with you is absurd. --Tony.

To: Henry Niman who wrote (27916)	2/6/1999 10:53:00 AM
From: Wallace Rivers	Read Replies (2) \| Respond to of 32384

This post may be met with some criticism by the thread - so be it. I am very happy that LGND is on the verge of marketing some drugs which are of significant benefit. This may sound crass, but the reason I plunked down my $$$ to buy the stock is not to save the world, but to make money, plain and simple. This is all MHO, and I would NEVER claim to have the expertise some have on this thread about the science of LGND. However, with marketing and sales of drugs in the not too distant future, LGND is no longer a stock being valued on something which strictly "might happen" in the future. Now, the stock will be under close scrutiny, perhaps closer scrutiny, because the transition to a company with sales has occurred. The recent price action may imply that some in the investment community are confused as to how sales and earnings might be impacted in this transition phase. i.e. the investment community is now waiting for LGND to pass muster as a sales company. I hope the sales force is capable, but this is the new realm of LGND as a "show me" stock.