MY PICK IS ELN

[spikefader]

That's a very risky short dude...jejeje

lol....yes, almost as risky as a long right now lol

But seriously, it's a valid short setup; channel short, descending triangle (with "phony" afterhours breakdown I see hehe). r/r is pretty nice so I feel good about the plan.

King, just tell me to hush if yall don't appreciate me posting this bearish stuff.

[Websman]

lol....yes, almost as risky as a long right now lol

But seriously, it's a valid short setup; channel short, descending triangle (with "phony" afterhours breakdown I see hehe). r/r is pretty nice so I feel good about the plan.

King, just tell me to hush if yall don't appreciate me posting this bearish stuff.

No problem Spike. It's ok to be wrong. Just be sure to set your stop tight. jejeje

[spikefader]

No problem Spike. It's ok to be wrong. Just be sure to set your stop tight. jejeje

[noshadyldy]

ELN short

Spike,
You're set up for a potential 31% gain (on your short) yet your target line extends down to approx. 14.15 or so. You do mean you expect it to go to 10ish, no? And why 10ish? because of 200 dma? larger stockchart shows probable decline to 13.20.
please don't stop being voice of contradiction to the perpetual cheerleaders. I love that side of things but am painfully aware that this serpents head can turn and bite in a flash. lets never get too comfortable when handling something like that.
thanks.

[spikefader]

Spike,
You're set up for a potential 31% gain (on your short) yet your target line extends down to approx. 14.15 or so. You do mean you expect it to go to 10ish, no? And why 10ish? because of 200 dma? larger stockchart shows probable decline to 13.20.
please don't stop being voice of contradiction to the perpetual cheerleaders. I love that side of things but am painfully aware that this serpents head can turn and bite in a flash. lets never get too comfortable when handling something like that.
thanks.

Hiya noshady! Very wise to not get too comfortable! It's really dangerous to marry a stock and convince yourself of a bias; it makes seeing the other side of the equation much harder. Hard to react to stuff when one is devoted cheerleader ya know?

That green target line wasn't my short target, it's merely the green triangle target. My target I based on where I saw solid support, and there is also supporting triangle target for that too; see below chart.

This morning you've got a breakdown from the inside day yesterday, down to 14.13, which is below all that vol by price support that came in after that news release.... which ain't a good thing fer bulls.



I was also messin' around with fibs last night for ELN, and noticed the 50% resistance at the recent high....and now perhaps a logic support area for my short is the 50% retrace back down.



Good luck folks! Make 'em pretty.

[Runner]

Bull’s better step in ELN as it threatens to fall out of the channel. MA’s are tight and so a nice move out might be in the near future.

Nice chart work Spike!

[noshadyldy]

oh geesh!

I'll be so dipped! Spike, when I saw your chart from stockcharts, I compared it to mine, as i said, mine showed the lower channel going to 13.20 ish. I tried every which way (I wish I could get it to copy and post). but no matter what, my lower line does not agree with yours. Lets see... I started from the lowest point in the oct/nov block. Put the marker right on the lowest point and carefully drug it to the edge. Nope! in stockharts2 it now shows 13.00.
Furthermore, what is confusing me is if your's is accurate, why wouldn't you be concerned,as a short, that it bounced right off "your" lower channel of 14ish?

Do you have any idea why my charts are differing from yours like this? Anyone else with differing charts.

[noshadyldy]

Ok, stockcharts 101...

Spike,
I just noticed that you do not drag your channel lines out to the far edge. At what point do you stop the drag and why? That seems to make the difference but does not make sense to me. Have I been doing this wrong all along, being led astray by strayed lines? All this time? Who's job was it to watch me anyway???

[spikefader]

I'll be so dipped! Spike, when I saw your chart from stockcharts, I compared it to mine, as i said, mine showed the lower channel going to 13.20 ish. I tried every which way (I wish I could get it to copy and post). but no matter what, my lower line does not agree with yours. Lets see... I started from the lowest point in the oct/nov block. Put the marker right on the lowest point and carefully drug it to the edge. Nope! in stockharts2 it now shows 13.00.
Furthermore, what is confusing me is if your's is accurate, why wouldn't you be concerned,as a short, that it bounced right off "your" lower channel of 14ish?

Do you have any idea why my charts are differing from yours like this? Anyone else with differing charts.

Spike,
I just noticed that you do not drag your channel lines out to the far edge. At what point do you stop the drag and why? That seems to make the difference but does not make sense to me. Have I been doing this wrong all along, being led astray by strayed lines? All this time? Who's job was it to watch me anyway???

OK, noshady, you are probably using log scale, as opposed to linear scale, which is what I prefer. You will see the option underneath price plot attributes. I think that will make the difference for you.

Re: concern for a short, yes, that was a major channel long that you speak of, however since then, there was a minor channel short (refer to chart), and the intraday descending triangle yesterday confirms the short setup, and other price action and volume notations I've made adds support to the logic that short is the correct bias.

But while 13.85 stands as support, especially considering it is a 'c' long, then medium-term and long-term Bulls still have a few legs to stand on. However, if 13.85 fails, there goes the legs and ELN long is a very risky play, considering the triangle projection down to $10.00.

As to your last post about dragging channel lines out to the far edge, what I do is drag the channel until I see a channel long or a channel short day, and then stop the channel there, and place the arrow there so that everyone can see that it was a channel day. If I continued to drag the channel beyond that point one wouldn't know that it was a channel day. But as far as finding the price for the current channel location, one must drag it to the current day. Does that make sense?

[Websman]

21/02/06

Alzheimer’s drugs to show profit

By Geoff Percival
ELAN could be well-positioned to start profiting from its anti-Alzheimer’s products over the next decade, with two of its drugs for treating the degenerative disease potentially delivering combined annual sales of around $5 billion (€4.18bn) by 2015.

Goodbody Stockbrokers has forecast that, on current market price levels, the two Alzheimer's drugs in which Elan is collaborating with Wyeth Pharmaceuticals with the production names AAB-001 and ACC-001 could generate sales of $2.7bn (€2.26bn) and $2.2bn (€1.84bn) respectively by 2015.

The two drugs are in Phase II and Phase I of development respectively and could, potentially, be approved for market within four years.

In total, Elan has varying degrees of interest from full production to royalty/property rights in five Alzheimer's drug products.

It still has property rights to an Alzheimer's treatment, which is currently in Phase II of development by the US-based pharmaceutical company Ely Lilly.

http://www.irishexaminer.com/pport/web/business/Full_Story/did-sgyPHxAwGxcLcsgDQQ5wn3uAIg.asp

[noshadyldy]

Thanks Spike, Yes it does make sense. Perfect sense.

[spikefader]

Hiya ELN fans.

Chart update fer yall.

[TFred]

Hiya ELN fans.

Chart update fer yall.

Greetings Spike,

That triangle target looks like volume support as well,are you still holding short?

cordially Tom

[spikefader]

Yep still holdin'. Stop to even of course and ride it out.....unless of course something significant happens in the meantime to change the bias.

[sisterwin2]

Yep still holdin'. Stop to even of course and ride it out.....unless of course something significant happens in the meantime to change the bias.

welll spike.... you make me so happy I could chit!