MY PICK IS ELN

[noshadyldy]

Thanks, Pal!

[spikefader]

5 minute pattern:

[Websman]

Big drop for a small downgrade.

When I checked the price at work, I figured something bad had happened, since ELN had tanked over $2. I was pleased when I got home and saw that the all the fuss was nothing but panic selling over a little downgrade.

After the big runup, I suppose we were due for a big correction. Good thing I'm in at 6.89.

[skiracer]

I just love it. Just when you think that it looks like everyone in the world is going to be fighting to get in on this stock because it looks like a sure bet on Tysarbi getting re-instated and there won't be enough to go around it sells off on 38 million shares. Never fails to amaze me. I took 2000 shares between $14.07 and $14.10 this morning and set a stop at $14.60 this afternoon. It can do whatever it wants to from here an I'm going to make a $1000. Saw a news release early this morning that it looked like a good play on either one of the two partners in this drug on the assumption that people were going to be fighting to get in on it before it went further up. At that time it was up .26 or so in the pre-market an I thought for sure it was going to go off bigtime today. Went out and came home around 10:30/10:45 it was under $16 and by 11:30/11:45 was at $14.06. No matter what the charts say these things never fail to amaze me. This drop will supply the incentive for alot of people to get in on the low price. My bet is that it goes back to over $16 or more from this consolidation.

[Websman]

I just love it. Just when you think that it looks like everyone in the world is going to be fighting to get in on this stock because it looks like a sure bet on Tysarbi getting re-instated and there won't be enough to go around it sells off on 38 million shares. Never fails to amaze me. I took 2000 shares between $14.07 and $14.10 this morning and set a stop at $14.60 this afternoon. It can do whatever it wants to from here an I'm going to make a $1000. .

Great job Ski! There's nothing like making a thousand bucks in a matter of an hour or two.

[spikefader]

ski; nicely done

[spikefader]

Potential Tweezer ELN. Great r/r here.

[noshadyldy]

I'd really hate to find out that my "index card up against the screen" method had any merit. But 13 ish looks possible.

[spikefader]

Not liking the ELN action That tweezer ain't happening....

The channel long with 5 min inverted SHS pattern from yesterday failing now.....a bearish thing.

The insanity of ELN has returned again lol

Holding my position with green hope, and accordin' ta plan. Anyone looking long side from here better sit this out for a while.

[spikefader]

I'd really hate to find out that my "index card up against the screen" method had any merit. But 13 ish looks possible.

Yup. As it's turned out that price resistance from August 04 is resisting very strongly. 12.50 is the 50 SMA, then 11.00 and 9.50 price supports.

A bearish market day is never a happy one, even when you're short futures

[spikefader]

[noshadyldy]

entertaining post from Yahoo board

Term Sentiment: Strong Buy 01/20/06 09:57 pm
Msg: 893509 of 893930
[posted by finance_n_strategy]

Forbes... it's what they DON'T SAY

SAID: "Elan Valuation Seen As 'Overvalued'"
NOT SAID: "I missed the boat at 8.40 and anything above that price to me means overvalued... however i hardly think it's overbought or that it won't go even higher."

SAID: “In our opinion, at nearly $17 per share, Elan’s valuation more than fully reflects a successful upcoming FDA panel meeting, market re-entry, and future peak sales well in excess of even the most optimistic scenarios"
NOT SAID: "At under $14 per share, Elan is a screaming BUY and I would mortgage my house, dip into the children's college fund, yadayadayada... What I didn't take into consideration is that sales will exceed even the most optimistic scenarios a lot sooner than anticipated and the price of the medication will be raised significantly which will add to the bottom line further."

SAID: "Silver said that if Tysabri does return to the market, neurologists may be reluctant to broadly prescribe it due to the responsibility of the required strict patient monitoring."
NOT SAID: "The reluctance is likely to be short-lived as doctors need to pay the bills somehow and besides... how strict can monitoring really be: (DOCTOR) How do you feel after starting Tysabri? (PATIENT) I feel better than I ever have! (DOCTOR) Works for me... see you again in a week. (PATIENT) Thanks, Doc.

SAID: "The analyst added patients taking Tysabri face the risk of missing early signs of the rare but life-threatening side effect of progressive multifocal leukoencephalopathy, a brain disorder linked to the drug."
NOT SAID: "Patients not taking Tysabri face the reality of missing out on life entirely as the life-draining side effects of MS continue to take their toll."

Just an opinion


Also on the board was a mention that Lehman bought up shares?????? Comon.. can't be... Not in America! That's ILLEGAL!

[Websman]

Well said Noshady!

[spikefader]

heh, yup yup noshady. It's all cloak and daggers, or smoke and daggers.......or smoke, cloak and daggers lol

Whatever is said at the moment, or between the lines, or anticipated fundamentally, the chart is clear; to me anyway. The weekly chart boomed 6 weeks ago, there just this week a fresh weekly channel long, and an expanding channel long. The bias is long.

This kind of retracement (while quick and more than I personally expected to occur) is merely heavy profit-taking from that price resistance of 16.45 that presents a nice buying opportunity. Smart people will look for a decent pattern and make the good r/r entry.

It's a bit troubling that the inverted 5 min SHS I posted didn't hold. And there wasn't a good intraday pattern for it yesterday. But the volume is looking climactic I'm anticipating a bounce this coming week.

Some might think, "why didn't you take or lock in profits?" My bottom line is that this volatile price action is within the limits of my plan. For me, it's either gap fill and extremely nice % win, or stop out for a push. I drew my line in the sand and don't have to sweat trying to get another entry....yet heh. Yes, it will be disappointing if it stops out. It will be yet another ELN disappointment. But I shall be victorious eventually with it lol How do I know this? Cuz I put the numbers on my side, and it's just a matter of time

[Websman]

I may consider adding back to my ELN position.