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

To: Hippieslayer who wrote (28310)	2/21/1999 2:30:00 PM
From: Henry Niman	Respond to of 32384

Since my post on Friday afternoon indicated that JK had commented "yesterday" I was talking about Thursday afternoon when JK mentioned LGND sometime between 3:30 and 3:45 and volume jumped as the price went down. A quick review: LGND's press release came out Thursday morning and was not mentioned on CNBC until late Thursday afternoon, at which time the volume picked up and the price hit its low of $10. After the close, there were some large blocks that went off above the ask price and LGND went up the next day (Friday) even though the only news was the Legg Mason downgrade. I wasn't quibbling over any price. Just noting that the was some indication that the selling on Thursday was over done, and I was a bit surprised that someone would question JK's ability to move a Biotech's price and volume (do you recall BBIOY a few years ago? I believe that the entire move from something like to $20 to $80 was almost exclusively based on JK's comments).