MY PICK IS ELN

[dmk112]

Agreed, SKI, I think it is profit taking and now that the gap filled it may be a good buying opportuinity just as long as it doesn't fall further...

I could wind up like this... Gap up - fill - run....

[skiracer]

I'm with you. I could care less if the drug ever gets back to the market. But if bounces up on the rumor or news presents an opportunity I want to be first in line to benefit. Only trouble is that there are probably hundreds of thousands of others doing the same thing and waiting in line for the next news break.

[thebign1]

Greetings ,'

BTW check out a 1 month chart on SJT,sold way too soon at 44,feel like a fool.
Any dip on that and Im in.

cordially Tom

I should have bought SJT @ $8... I liked the monthly divey.

[Thomrich]

Greetings folks,

Im not sure why Spike called the chart bearish,and a possible retreat to 3.

Is this possibly a gap fill,or is there something in the price action to suggest total retreat?

I put Spikes opinion as pure money,so his input is valuable to me,I hope you keep your opinion public.

cordially Tom

[Websman]

I'm with you. I could care less if the drug ever gets back to the market. But if bounces up on the rumor or news presents an opportunity I want to be first in line to benefit. Only trouble is that there are probably hundreds of thousands of others doing the same thing and waiting in line for the next news break.

On a stock like ELN, I prefer to take my place in line early, and wait.

[Websman]

Aug 10, 2005 (M2 PRESSWIRE via COMTEX) -- Today the Bellwether Report has identified Elan Corp. (ELN), a company that our analysts will be tracking over the ensuing weeks. They recently came out with a significant corporate development this month, causing a positive correction. For a full report on the below mentioned company, and many more, feel free to visit www.bellwetherreport.com for a free 30 day no obligation trial.

Drug manufacturer, Elan Corp, was trading up as much as 18.6% today on volume of 30 million by midday.

Back on Feb 28th the company took a serious fall after 2 patients came down with the extremely rare life-threatening brain infection, multifocal leukeoencephalopathy (PML). Tysabri, approved only last November, was expected to top the market for multiple sclerosis drugs. These tragic incidents however created an enourmous loss in income potential sending investor sentiment from a complete high, to panic.

It was suspected that the combination therapy of Tysabri with Avonex, an older Biogen drug for MS, may have been the cause of PML. This assumption was somewhat confirmed today when the companies announced no new cases in monotherapy treatment, meaning Tysbari has the potential to be used alone rather than in combination with another drug like Avonex.

Today shares were trading up after it was announced that Elan and Biogen had completed their exhaustive review of Tysbari users. While an additional review ...

To view the full unbiased report on Elan Corp. (ELN), feel free to visit our site. This article and many more are available for review under the Today's Articles Section. No credit Card Needed!!

The Bellwether Report will continue scanning the markets for true emerging growth opportunities that will show subscribers optimal entry points with profitable exit points. If you are interested in receiving more information on feel free to sign up for a 1 month complimentary subscription to the #1 online investment resource www.bellwetherreport.com.

All material herein was prepared by the Bellwetherreport.com, (Bellwether) based upon information believed to be reliable. The information contained herein is not guaranteed by Bellwether to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Bellwether is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Bellwether may receive compensation in cash or shares from independent third parties or from the companies mentioned.

Bellwether's affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. Market commentary provided by Jay Lee.

Bellwether will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.

[New-born baby]

Bile

Here's my Bile on ELN:


Webs,
I never looked at the chart before the gap up, but if I had, I would have bought in with you.

[Thomrich]

Greetings ,
Spike can I get your thoughts on ELN action,and are you still bearish on it?

Could you possibly point out why the bear call after it dropped to 7.90,I dont want to make the mistake of buying a gap fill again if theres something I missed.

thanks as always ,Tom

[New-born baby]

Notice this?

Greetings ,
Spike can I get your thoughts on ELN action,and are you still bearish on it?

Could you possibly point out why the bear call after it dropped to 7.90,I dont want to make the mistake of buying a gap fill again if theres something I missed.

thanks as always ,Tom

Spike is the expert; I am the novice. But did you notice that every time ELN spikes up, it gives it all back very soon. I think that is because the smart money is taking the profits as soon as they get them, and re-investing when it pulls back.


I myself would take that into consideration on any move up.

I like ELN above $8. Strong support at $8 mark.

[Thomrich]

Greetings,

Thanks for your input NBB.Im sure Spike has a good reason for a call to 3,I really dont want to hold a trainwreck if I can help it,maybe get out with a small profit.

Im thinking the charts whisper somethung ominous,which I cant see.

cordially Tom

[spikefader]

Greetings ,
Spike can I get your thoughts on ELN action,and are you still bearish on it?

Could you possibly point out why the bear call after it dropped to 7.90,I dont want to make the mistake of buying a gap fill again if theres something I missed.

thanks as always ,Tom

OK, here are two charts with some bearish stuff on them. I have a bearish bias since I'm looking for a pink 5th down, which will likely break the monthly bear flag formation (rising trendline from the bottom). The bearish call the other day has some reasons in the post, and frankly when I was looking at the longer-term charts I had a distinct interpretation (perhaps it's just gut feeling and no real basis and I'm still trying to work out if I'm getting emotional with ELN or not). But I just can't shake this nagging fact that all the spike ups being sold into hard. The recent gap up is just another example of it.

I look at the daily money flow, and the channel turn down and it any bullishness I had on the stock gets overwhelmed with all the other stuff. I just would have loved to have seen more strength from it. It really hasn't been showing that to us. Perhaps it never will, and it will continue to prove my short-term calls off.

Notes I forgot to put on the chart:
1. The blue expanding channel is suggestive of caution (expanding channels always are).
2. Channel short days (gray) occurred on both Aug 10 and Aug 11 (2 days in a row). There was also the minor channel turn down I mentioned the other day.
3. Natually, the pink count is speculative and interpretive, and EW is all about that

And on the bullish side, I must confess there is the potential is always there that the inverted SHS from Friday is going to be fuel the gap support to hold and invalidate the pink count I have and invalidate the gray channel shorts. And perhaps the daily inverted SHS is still valid and the first channel blue long is going to hold blah blah. And if so, wonderful for those long.

But I just would like to see strong bullish foundation building; instead of surprise moves up that are heavily sold into is all

[spikefader]

...did you notice that every time ELN spikes up, it gives it all back very soon...

Very intuitive!
It's hard to deny that observation, and the poor money flow.

That money flow indicator really is awesome. It has added an extra angle that I think is, if you'll excuse the pun, on the money!

See, it multiplies a closing location value (basic explanation) by the daily volume. So high volume days where the close is lower than the open influence the shape of the Money Flow indicator. Gaps have no influence on the reading - it's all about open and close values, which I think is a great thing. That's why a stock can actually be rising yet the money flow is attrocious.

Of late, the last couple months, ELN has been very often opening higher only to sell heavily and close lower (despite any gap ups).

I had a closer look at ELN and made a list of all the high vol days ELN did that. Look at them and you'll see why the Money Flow is so poor:
10 June
16 June
30 June
20 July
21 July
27 July
2 Aug
9 August (big gap up recently)
10 August!
11 August
and today 15 August.

Those days all explain why the Money Flow (on the daily chart) is currently at levels approaching those after the plunges down in Feb and March, and those levels were ultra extreme. Now you tell me; if Money Flow is that BAD, it's hard to get excited about it.

What will get me excited about ELN bullishly is when money is flowing INTO it when resistances are broken and BOUGHT! Not the other way around like it's acting now.

[Websman]

Guys, you can post all the charts you want, but when the news of Tysabri being re-introduced happens, ELN is going to shoot up overnight and it's not going to care what the charts say.

I usually do go by the chart, but on this particular stock, I'm taking the buy and hold approach. I've seen enough evidence to convince that good news is just around the corner.

Am I right or wrong? We will know sometime in the next few months.

[spikefader]

Guys, you can post all the charts you want, but when the news of Tysabri being re-introduced happens, ELN is going to shoot up overnight and it's not going to care what the charts say.

I usually do go by the chart, but on this particular stock, I'm taking the buy and hold approach. I've seen enough evidence to convince that good news is just around the corner.

Am I right or wrong? We will know sometime in the next few months.

LOL our Vulcan is developing stubborness, emotion and blinkered illogical opinion!! hehe

Seriously Webs, I truly hope that it does do that!!

Yes, the market will do what it's going to do. Yes, TA can be shown to be wrong. But the thing is, there is absolutely no way to tell if and when it's going to do that.

Yep, you are gambling with this trade but I think you've already said that???. But there's many a slip between cup and the lip, and there are no guarantees. You can believe in the fundamentals all you want. It's still just blind faith on your part, no matter how much research supports your view. Something bad might happen and it could send it plunging again like the monthly is pointing to, or it might merely search for a proper double bottom on the daily or monthly. I pray if it DOES do that, you're only going to lose a little.

I'd rather misread ELN and miss a great bullish jump than to ignore what I see, take a bet, and hope for the best.

[skiracer]

Webs,
Everyone should do what they want to do with their own money. You're in cheap and up a couple of points. We aren't so who is in better shape with the stock. I personally would play it differently on the bounces on the news breaks and sell into that strength and take the gains to turn back into more stock on the drops if you really liked it that much. But you're in great shape with it and just don't let those 2 points get away from you. If there were some negative newsbreak it could go down much faster than it went up. Right now all those people in from 3/4 range are sitting pretty on those gains an if they thought they were going to lose them it could fall pretty fast.