MY PICK IS ELN

[spikefader]

ok SPike what do you see for Tuesday ??
up $1.00+ 43 million shares traded

Many possibilities is what I see. Clearly acting bullish isn't it! But ya know, it's in the thick of resistance now. Who would buy here? Not me But that said, I'm expect the gap fill of 6.96 and won't be surprised if it bulldozes on to gap resistant at 9.75. Who knows....it may be on a march into the big gap. Resistance is only resistance until its broken But it is what it is - resistance. At the same time, with the declining channel bust and earlier upper channel boom, there are valid technical reasons for longs to continue holding it. And ya know what, consider this; there is always a chance of a huge bullish resistance-breaking run to close the bigger gap. Is it possible? Sure, although I can't imagine it, but it's possible. Is it likely? Not in my opinion. I think the right side to be on tomorrow is, again, short.

But there is more chance now of a big inverted SHS on the weekly forming as opposed to the fifth, but the 5th is still possible at this stage. If 8.39 is taken out, I'd probably abandon the 5 wave scenario and green light looking for entry to time the bottom of the shoulder....or channel long.

Short answer is I dunno

[kingofthehill]

me either Spike , i di very well off the bottom here im not sure what i would do , its not longer a steal at this price i would like it to just hold $6.75.7.50 range ...till the company tells us more about the FDA news

[kingofthehill]

HEY SPIKE DOES THIS GUY MAKE ANY SENSE ???

the runup from 4.40 to 6.80 is the A-B run and the 6.80 t0 6.18 is the B-C move; that says that we had a 29% retaracement of the move...If the low for today holds, then a 1to 1 Fibonacci expansion aould put us up to 10/share or a bit more...A greater expansionwill ofcourse yield a higher high, but wahtis important her is that a break to the upside surpassing the open high this morning is superbullish. Also please note that we did not even approach the 36% retracement that normally accompanies this type of moves...So now the odds are high that we will see at least $10.00/share

[spikefader]

I dunno about those ABC numbers - a $2.40 AB and a $0.38 BC seems out of proportion to me; but I'm not a EW follower; my counts are KISS theory, so I'm an infant EWer, and simply use them in a very KISS way to help me and it works. The C long setup as a significant pivot point is as far as I go with it, and I don't follow regular EW rules, so....

But here's how I would count it;

[spikefader]

Looking much better now King It's got me interested as a bull again...

[noshadyldy]

gettn my waterwings on and jumpin back in soon.
I can't help but to feel so strongly about this drug.

[Websman]

I think I'll jump in with a few shares in the morning.

[Runner]

I would like to see a little P/B with ELN. Could be healthy for the stock. Put this one on my radar screen.. Nice job for those who bot in the 3’s

[Websman]

I think I'll jump in with a few shares in the morning.

Maybe not tomorrow. I'll be looking for an entry point though.

[kingofthehill]

http://msnbc.msn.com/id/7795358/

Alzheimer’s vaccine on right track
Drug helps clear brain plaques in study participants

Reuters
Updated: 7:27 p.m. ET May 9, 2005


WASHINGTON - An attempt to make a vaccine to treat Alzheimer’s disease, abandoned after it caused dangerous brain inflammation in some patients, may have done the patients some good, researchers reported Monday.

They found evidence that the vaccine, made by Dublin-based Elan Corp. and Wyeth Pharmaceuticals, helped clear some of the brain-destroying “plaques” that characterize the disease.

Some vaccinated patients scored better on memory and a few other tests used to diagnose the fatal, incurable condition.

“We now need to see whether we can create an immune response safely and in a way that slows the progression of Alzheimer’s disease and preserves cognition,” Dr. Sid Gilman of the University of Michigan Medical School, who led one of the studies, said in a statement.

Alzheimer’s affects 15 million people around the world and 4.5 million in the United States. It gradually destroys the brain, causing memory loss and confusion that becomes so severe patients cannot care for themselves.

Vaccine targets brain-clogging plaques
Elan’s experimental vaccine, AN-1792, targeted the beta amyloid proteins that form the brain-clogging plaques.

It has been shown to generate antibodies against beta amyloid, and Swiss researchers found the patients whose bodies made antibodies in response to the vaccine did not get any worse over the year following vaccination.

The vaccine trials were stopped in 2002 after 17 of 300 patients being tested developed a life-threatening inflammation of the brain called meningoencephalitis.

But the researchers continued to monitor the patients for a year after their last vaccination and were also able to examine the brains of some patients who died after the trial.


Writing in the journal Neurology, the researchers said volunteers whose immune systems mounted a response against beta amyloid did significantly better on a series of memory tests than patients given a placebo injection.

Magnetic resonance imaging scans also showed that the brains of patients who had a strong immune response shrank — possibly because the brain-clogging material was removed.

And they had reduced levels of tau, another Alzheimer’s-associated protein, in their spinal fluid.

“Three participants died of causes unrelated to the vaccination, two of whom had developed encephalitis and one other did not develop encephalitis,” Gilman said.

“All had large patches of their brains where beta amyloid had apparently been cleared out — the tangles of tau protein were still visible.”

Now the researchers are trying a new approach that uses antibodies against beta amyloid instead of the protein itself.

Last month another team reported that a small trial using antibodies seemed safe and may have delayed or even halted progression of the fatal disease.

Copyright 2005 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.
© 2005 MSNBC.com

URL: http://msnbc.msn.com/id/7795358/

[Michaelk005]

No offence king, but this article and the many other recent "NEWS" about ELN has all seemed to be to be a last ditch effort for a doomed company,

They found evidence that the vaccine, made by Dublin-based Elan Corp. and Wyeth Pharmaceuticals, helped clear some of the brain-destroying “plaques” that characterize the disease.

I dont like the words "some" in a article reffering to biomeds. I dont like this company anymore and would venture to say .50cents by year end.

[spikefader]

Looks like the neckline of the big inverted SHS has just been broken (6.74ish) in a very bullish morning for ELN
There has been 5 waves up intraday today, and currently at abc correction. Recommend a long entry at the anticipated c, of 6.86 (will confirm when it's completed). Tight stops in the event of a c failure.

[spikefader]

ELN: OK, looks like the c ends at 6.86.
Just took long at 6.90 on the triangle/bull flag breakout.
Stop at 6.83.

[spikefader]

Here's the chart:

[kingofthehill]

No offence king, but this article and the many other recent "NEWS" about ELN has all seemed to be to be a last ditch effort for a doomed company,

They found evidence that the vaccine, made by Dublin-based Elan Corp. and Wyeth Pharmaceuticals, helped clear some of the brain-destroying “plaques” that characterize the disease.

I dont like the words "some" in a article reffering to biomeds. I dont like this company anymore and would venture to say .50cents by year end.

NO offense taken , thats why this news was released by WYE, noone believes Elan anymore. this program has always been the core of Elan, even last fall they said ALZ would be bigger for them than Tysabri. only time will tell. huge reward if im right and just another loser if im wrong