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Isn't March 7th suppose to be the big day of announcement? Seems awful close to the date here for all these shannanigans to be going on. I'm short since 14.59 but sure don't want to get caught holdn' da bag! KABOOM!
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"Whatever you can do or dream you can , begin it. Boldness has genius,power and magic in it." Goethe -
Trading will now be halted for the two days of the conference. It could be good or it could be bad. The VTP indicators are presently showing a downtrend. I'm not going to risk it either way.Originally posted by noshadyldyComment
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hehe noshady!!!!!Originally posted by noshadyldy
Awesome decision that one! Well done and congrats! woohoo.
lol ya shannanigans alright. Gap down on high volume......now trading down after hours to 12.50......hmmmm it looks sick.....is some bad news on the way??Isn't March 7th suppose to be the big day of announcement? Seems awful close to the date here for all these shannanigans to be going on.but sure don't want to get caught holdn' da bag!
I'll be looking to tighten this stop tomorrow....and I don't think I'll hold short through announcement news, noshady.
Sorry for all the bearish stuff goin' on right now any longs.....Webs, King, sisterwin......I'm assuming you're all holding long. 10.00 will be a good place to add I think. Too far under 10.00 support and I'd be concerned about it falling to 6.00......eesh.
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No problem Spike. It's time for me to take my huge profit and move on. I unloaded half of my position last month and will dump the rest tomorrow.Originally posted by spikefaderSorry for all the bearish stuff goin' on right now any longs.....Webs, King, sisterwin......I'm assuming you're all holding long. 10.00 will be a good place to add I think. Too far under 10.00 support and I'd be concerned about it falling to 6.00......eesh.
Besides, I could use the extra cash so I can continue my VTP research.Comment
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Originally posted by Websman
WHAT???? TRADING HALTED???? IS THAT SOME KIND OF A JOKE?????? DON'T SEE ANYTHING ON THAT. WEBS, IF YOU'RE M AKING THIS UP, I'M COMING DOWN THERE AND GIVING YOU A MASSIVE SWIRLY!!!!!
"Whatever you can do or dream you can , begin it. Boldness has genius,power and magic in it." GoetheComment
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Elan Stung by Research Report
while 92% of doctors believe the drug could be a valuable therapy to patients, only 59% think it should return to the market
The survey involved 140 neurologists, 27% of whom have prescribed Tysabri.
At most, doctors expect to use the drug in 10% of MS patients
Only 6% of physicians would use Tysabri as a first-line therapy on newly diagnosed patients
Explains the volatility down today......
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I will be halted for two days starting March 7th... Not today.
4:30PM Elan announces suspension of trading of its shares on March 7 for up to 2 days (ELN) : Co announces it has agreed with the Irish Stock Exchange, the Financial Services Authority in the United Kingdom, and the New York Stock Exchange to suspend trading of its securities during the scheduled FDA Advisory Committee meeting to review Tysabri, commencing March 7, for up to two days.Comment
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Originally posted by Websman
OOOHHHHH! I Misread, thought you were saying it was halted NOW. err.. never mind.
I had my swirly dunking hand all geared up and everything!
But on another note, what good does it do to halt trading? The answer seems logical,even to this nonvulcan womanoid, but trading was halted for that tragic 9-11 disaster also. Alot of good that did. Market still reopened in the toilet."Whatever you can do or dream you can , begin it. Boldness has genius,power and magic in it." GoetheComment
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there was an article planted by TEVA a competing MS drug to all media outlets today it was refuted late in the day ... but some damage was done.. i heard that a very positive NEJM article will be out sometime Wed.
the crazy ride continues..........Comment
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I've said it before an I say it again it's strictly news driven. You can throw the charts and TA out the window on this stock until that decision is made.
This morning Piper Jaffray issues a lowering of their guidance from $15 to $14 and says that out of 192 neurologists, how many neurologists are there in the US, 92 % believe the drug could be beneficial in some manner and 59 % say it should not return given the risks of it happening again. On that number the stock falls $1.25 or 8.96 %. They interview 192 neurologists. Is that a consensus?
If in the morning some other brokerage or analysist comes out with another survey on a more positive note or anything positive there will be another rush to get back in. I think everyone is looking at their gains and getting antsy now that it's getting down to the wire. Preservation of capital. I don't think that $10 couldn't happen but I don't see it happening an as much as I rely on the TA side of all of this I don't see where it means as much as the newsbreaks with this stock.THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Eln
It's going to be hard seeing all the profit evaporate.Comment
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In this case, the halt is to prevent any shenanigans and the resulting legal boondoggles that might ensue if some joker decides to prematurely leak news out of the FDA panel meeting into the market.Originally posted by noshadyldyComment
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ski, eekads man! Haste thou lost thou mind! lololOriginally posted by skiracer
Seriously though, charts don't lie; only people do! And the chart was whispering what happened today for days......the TA has been pretty spot on for it recently....my entry the other day was pretty close to perfect dude; 1% risk and scooped 16%. Today's channel long with SHS was good for an intraday run (not that I saw the r/r value), and then the 12.88 resistance area was pretty good TA that had me +3% afterhours at one stage and open with green hope on it....
Throw TA out the window!!!! I think not! heheComment
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Halt-Trading not all bad
Eyetech Eye Drug
04:26 2004-08-28
Eyetech Pharmaceuticals Inc. (EYET.O: Quote, Profile, Research) said trading in its common stock was halted on Friday before a U.S. advisory panel meets to review its experimental drug to stop vision loss in elderly patients.
A panel of outside experts that advises the Food and Drug Administration will review the drug, called Macugen, which is injected into the eye to treat age-related macular degeneration, a disease that destroys all eyesight except peripheral vision.
Eyetech and Pfizer Inc. (PFE.N: Quote, Profile, Research) are developing the medicine, informs Reuter.
Nasdaq - commentary - research) was halted for most of the day Friday because of a Food and Drug Administration advisory committee meeting to review the small, New York-based biotech's experimental eye disease drug.
The panel meeting follows a staff report by the FDA Thursday that concluded the company's drug Macugen, has "a favorable safety profile and is an effective treatment."
Eyetech is collaborating with Pfizer (PFE:NYSE - commentary - research), the world's largest drugmaker, whose stock was not halted.
In a brief statement late Friday afternoon, Eyetech said the panel did not take a formal vote, "in accordance with the rolling submission process." The company provided no further information on the meeting, but said it and Pfizer were "pleased to have the opportunity to meet with the FDA and its advisory committee and look forward to further dialogue with the agency
Eyetech added $1.66 to $40.60 when shares finally opened for trading late in the session. Shares jumped more than 11% Thursday in heavy volume -- about 12 times their daily average of about 574,000 shares.
The disease -- called wet age-related macular degeneration (AMD) -- distorts, diminishes and destroys eyesight. Tests of the drug Macugen suggest greater hope in retarding the progress of a disease for which the few current treatments are often meager, expensive and impermanent.
The staff report also says the panel should ask several key questions when reviewing Macugen. Most importantly, it said the experts should determine if sufficient data has been submitted. It also says the panel should decide if additional analyses of current data are needed.
A favorable opinion by an FDA advisory committee doesn't guarantee approval by the full agency, but the FDA usually follows the advice of its advisors.
As its name clearly states, the biggest cause of wet age-related macular degeneration is advancing age. It is the "single leading cause of irreversible severe vision loss in developed countries," the FDA report says." [Wet AMD] "remains an area of high unmet medical need and is a major public health issue in an aging population." The disease affects an estimated 1.6 million Americans and is growing at about 200,000 U.S. patients per year, reports the Street.
According to Forbes, Biotech company Eyetech Pharmaceuticals Inc. said it is optimistic about the Food and Drug Administration's advisory panel review for its age-related blindness treatment Macugen.
"The meeting couldn't have gone better," said Eyetech spokeswoman Karin Hehenberger.Comment
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