MY PICK IS ELN

[Runner]

Ski, notice how ELN seems to move in 3’s. Up 3 days down 3 days. Not sur if it means anything though..Almost has a bear flag look to it

[spikefader]

Hi Doctor.

Big welcome to ya!

Good luck with the ELN trade.

Don't like either of MEMY and NEOL sorry to say. Poor money flow right now, but I'm picky. But they got things going for them; MEMY runaway gap potential and NEOL at support. But I like a whole lot more than that. With so many good looking charts out there why risk playing with the weak ones ya know. Anyway, give us a heads up if they show some clear strength over several months!

Hey ski, I agree that lower prices may be offered. Not liking that double top area; never do! heh But I feel better about holding on when I look at the weekly. I think stop to even and let the market decide if I have to work hard again to get another entry. I want that gap fill. I DON'T want to bail just cuz there's a hurdle to jump over. I got green hope ya know! hehe I think my 'a' correction entry is safe and I don't feel like missing a gap n run move should one happen along the way.

[doctor_j]

Biotechs

Thanks for your responses, spikefader, ski, runner. Guess the doctor in me looks too much into what might be and not what is.
As a side, which software do you use for looking at money flow?

[kingofthehill]

Spike from the yahoo message board on ELN ..what is your take ..is this guy correct ..it does sound great

A New Year Gift!
by: teadowner 01/04/06 11:32 pm
Msg: 869598 of 869690

Today, I would like to send a New Year gift to all the ELN diehards. But before I unveil the gift, I would like to level set with you in what we have accomplished thus far:

For the last several months, we have come across several tools that allow us Chartists to “see” the future price of ELN. I know that there are beaucoup skeptics out there who insist upon that T/A could only reflect the past and not the future. Let’s call a spade a spade and review the past performance of these alleged “future seeing” tools:

Tool #1.

“Volume precedes price precedes news” has been proven to be correct time and time again. Enough said.

Tool # 2.

“Whenever a long white candle occurs, higher highs will follow” is 100% in 2005. I rest my case.

Tool # 3.

“Whenever a divergence exists between the volume and the price, a re-synchronization will occur to eliminate this divergence” has been perfect in 2005.

By now you should have known what to expect as a New Year gift from a Chartist.

Another tool of course! Here we go…..

Tool # 4.

Question: What is da missing link between the trading days on 8/25, 11/11, 11/14, 11/15, 12/7, 12/8, 12/9 and 12/13?

Answer: Huge Net Buy Volumes (NBV)! The numbers were 2.4M, 2.5M, 3.5M, 3.6M, 3.6M, 3.3M, 2.7M and 4.4M shares.

Question: What follows these huge NBV numbers?

Answer: A minimum price surge of 10%! No exceptions. Therefore, Tool #4 states:

“Whenever a net buy volume of 2.4M or more shares occurs, a minimum price surge of 10% or more will follow.”

BTW, didn’t we have a NBV of 2.9M shares today? I wonder what that means.

Place your bets my friends.

I stated several times before that I couldn’t tell the difference between double blind and double talk (vividly demonstrated by ML and Citigroup). But via data mining and patterns recognition, I begin to find logical explanations to what has happened and what will happen to the volume and price using T/A.

IMHO, the above PROVEN tools should allow darrellamello and other Chartists to “see” the future pps of ELN with ease. Please feel free to use them to your advantage. Should anyone still have doubts and want to argue, bash, smear or diminish the value of T/A, simply put me to IGNORE and get lost.

Best regards

PS.Monstrous thought: I “see” snowballing effect straight ahead when Tool #1 or #4 triggers the completion of the pole-flag-pole pattern to $17. Then a 50% filling of the BM gap to $18.25 will be within easy reach. After that, with zero technical resistance, a 100% filling of the BM gap to $26.75 will be a cake walk, IMHO.

PPS.What about news? Who cares! It is only an alibi for the already-occurred volume and price moves and an excuse for the so-called analysts in writing up their trash to justifying their obscene salaries.

[skiracer]

Ski, notice how ELN seems to move in 3’s. Up 3 days down 3 days. Not sur if it means anything though..Almost has a bear flag look to it

Runner,
It was that daily chart that I though was developing a small ascending triangle. As far as I can see the only engine driving ELN is the strengthening possibility of the re-instatement of Tysaribi. Fundamentally there is nothing else there right now to give support to why anyone should own the stock. But the belief that Tysaribi is going to be re-instated for use is what is causing all of the interest in the stock right now.
In my opinion those step patterns are the daytraders, momo guys, and anyone else in a myriad of players who are in an out of this stock of late driving it up an as more retail guys get in they sell off into that strength leaving the retail guys holding their positions. The luckier ones are the ones who are in from much lower levels and are holding steady while the others in anywhere from $13.50 are indecisive as to what to do not wanting to lose out on the possibility of another great newsbreak which would drive the stock up even further. This is just the way I see the play developing an if I'm wrong then I'm wrong. If you can devise a strategy to play these peaks and valleys and time it the right way you could profit or you could just buy in at these levels now an hold on in the hope that the drug gets re-instated at some time in the near term.

[kingofthehill]

2 trades were posted yesterday of 750k each $14.40..thats not retail ...lol

[spikefader]

Thanks for your responses, spikefader, ski, runner. Guess the doctor in me looks too much into what might be and not what is.
As a side, which software do you use for looking at money flow?

I look at stockcharts daily charts with Chaikin Money Flow on them, and I also like Money Flow Index on a 20-day hourly candle chart that quotetracker has for their historical charts, which are actually provided by future source here

http://charts.prophet.net/servlet/ChartServer?symbol=qqqq&width=500&height=550&price.display=3&duration=20d&interval=60&price.scale=0&VOL=&hideevents=1&barsofar=1&PSAR=,,&MFI=,,&scheme=blugray&snapquote=1&service=ProphetSnapCharts&scsave=1&randomize=1.3544682093972942

[spikefader]

Spike from the yahoo message board on ELN ..what is your take ..is this guy correct ..it does sound great
...allow us Chartists to “see” the future price of ELN...
...higher highs will follow” is 100% in 2005.......
...re-synchronization will occur to eliminate this divergence” has been perfect in 2005.
....Whenever a net buy volume of 2.4M or more shares occurs, a minimum price surge of 10% or more will follow.
...Place your bets my friends...
..I begin to find logical explanations to what has happened and what will happen to the volume and price using T/A...
....“see” the future pps of ELN with ease....
...a 100% filling of the BM gap to $26.75 will be a cake walk, IMHO...
... justifying their obscene salaries...

hehe I'm a skeptic on most of what is written, especially the "see the future" and this "will happen" descriptions. It's hype, and probably inaccurate. If there ever were a truth to this business, it is tht NOTHING is a sure bet. Holy Grail hunters are wasting their time. System developers are not as far as finding great systems that have potential to be profitable if used by disciplined people. Yes, there are very high probability winning systems out there. Yes, they make great money. But betting the house on that system being 100% correct is a mistake and it's just a matter of time before the user gets bitten and blows up their account.

So to answer your question is this guy correct??? I think he's on the money about that ELN gap filling, I think his bullish bias is correct....for now..and I'll think that way until the chart says otherwise. On his system???.....his own observation of "I begin to find logical explanations" is probably the most accurate thing he said. There are logical explanations to most things, and a system can embody that concept and define and display an edge. But r/r and management makes the true difference.
So for anyone looking to play ELN long, continue to stalk it, find those great r/r setups, and execute 'em to get in, and set your risk according to your tolerance.

Oh, and go ELN!

[spikefader]

2 trades were posted yesterday of 750k each $14.40..thats not retail ...lol

Buy signal on one of my favorite system triggers fwiw.

[dmk112]

spike, the trigger is the 1st dot that appeared today?

[spikefader]

spike, the trigger is the 1st dot that appeared today?

oh no, it's when MFI hits 70 during a bullish PSAR. That is the trigger, which was yesterday's open/whenever that first 70 reading was delivered.

[dmk112]

Spike, how do you define a bullish PSAR?

[spikefader]

Spike, how do you define a bullish PSAR?

Those red dots under price is bullish psar. When the dots flip to above price, it's starting a fresh bearish psar trend. So yesterday you can see the dots had been under price for 3 days...so the trend for those 3 days was bullish. But MFI didn't hit 70 until yesterday, so that's when the buy signal is. The concept is you want to be buying into a trend when money is flowing into it.

[dmk112]

I C, thanks spike.

[skiracer]

2 trades were posted yesterday of 750k each $14.40..thats not retail ...lol

King,
Not knocking you, anyone, or the stock. Only commenting on how I see this thing. I made $4400 on those 1st two trades in less than 2 wks. I'd be a hypocrite to badmouth the stock. I stated it was just my opinion an I could be right or I could be way off base with my comments. One thing for sure is that I will be back in an out of this stock again when I think the setup is right for me. Never intended to upset anyone. Just giving my opinion and certainly not making any calls one way or another. Really do believe the stock will fill that gap or most of it eventually and I will be on that boat.