MY PICK IS ELN

[stocks54]

I am in for long run. I might buys some 08 LEAPS and forget about it.

[New-born baby]

naked

I like your idea of some "naked" $17.50 calls. I think that if I can get them at .45 or even .50 cents on a gapup tommorow, I might go for some there.
The premium there looks better than the puts.

However, if I see any of the analysts start giving ELN targets of like $20+, then I will stay away from the $17.50's and perhaps try to sell some $20 calls, which I really doubt ELN will touch in the next 6 trading days. Either way, I expect a gap-up tommorow.

And yes, I do realize what a naked call is, and how risky it can be!

Thanks for the input!

Mystiky,
Naked calls are not as risky if you do one or both of these things:
1. Stand by the computer screen and watch the action. If ELN moves up to the $17.50 range, you buy the stock and still have a small profit.
2. Set an alarm on your www.InteractiveBrokers.com account and when the stock reaches your buy point, it automatically buys the stock to cover it for you.

No, I am not ashamed of plugging IB!

[New-born baby]

Leaps

I am in for long run. I might buys some 08 LEAPS and forget about it.

Stocks,
JAN 08 $10 calls for ELN are selling for $6.50, barely a time premium at all on the stock. Incredibly cheap! But you have to be convinced that ELN is a winner, i.e. going to move up $1 hehehe Hey, if you are with www.interactivebrokers.com, buying a call cost 75 cents. Compare Scottrade at $7+1.25 per contract.

No, I am not ashamed of pumping IB!

[mystiky]

ELN naked calls

Well, I was going to sell some March $20 naked calls today at the open for .15 -- but, it never hit my target. I wish that ELN would had gappend up to like 16.50 for the open.

So, nothing for me.

Mystiky,
Naked calls are not as risky if you do one or both of these things:
1. Stand by the computer screen and watch the action. If ELN moves up to the $17.50 range, you buy the stock and still have a small profit.
2. Set an alarm on your www.InteractiveBrokers.com account and when the stock reaches your buy point, it automatically buys the stock to cover it for you.

No, I am not ashamed of plugging IB!

[DSteckler]

<< Well, I was going to sell some March $20 naked calls today at the open for .15 -- but, it never hit my target. I wish that ELN would had gappend up to like 16.50 for the open.

So, nothing for me. >>

It's questionable whether you would have gotten 15 cents even had ELN gapped to $16.50.

[New-born baby]

Clearing the knot off of its head

Well, I was going to sell some March $20 naked calls today at the open for .15 -- but, it never hit my target. I wish that ELN would had gappend up to like 16.50 for the open.

So, nothing for me.

Mystiky,
Like I said in my earlier post, ELN will probably need three days to clear the knot off of its head. By that I mean that ELN bumped up against the $16 resistance, and usually that means a pullback for perhaps three days. What happened today was a shakeout of some weak holders, people just glad to get their money back out of this dog, er, stock. Did you see the volume today? HUGE. Even more than yesterday's abnormal spike. Maybe next Tuesday she starts upwards again in earnest--for awhile. That $17 resistance is also very significant, so I don't expect you to have any trouble with a $20 call in one week's time. Of course anything could happen, but with the current market conditions, I doubt it.

[noshadyldy]

Yike! Had another one of those ELN dreams last night! It shot up $9 in a flash and there I was not being able to remember if I was last in or out. What a nightmare!

[spikefader]

Yike! Had another one of those ELN dreams last night! It shot up $9 in a flash and there I was not being able to remember if I was last in or out. What a nightmare!

lol
I seriously think you'd be better having dreams about BEL noshady. That's still good for at least a triple I think. Just need to snag a good entry and hope it acts right from the get go...just like I am always sayin' lol. It's those perfect entries ya gotta let run.

[noshadyldy]

Wow, Spike! I took a look at BEL. Looks wonderful. Definitely give a holler when you think the waters right. Thanks!

[lak]

Yeah BEL looks good indeed.......

[spikefader]

Gee, this thread seems abnormally quiet. Wassup ELNers?! Not much joy in the chart, which I'll attach for your viewing dipleasure. I think support play 13% lower than current prices is wisdom at this stage. Stop for that play would be under the gap up day.

If you gonna wear that cat suit, I'll take you in on any cold night. Even let you nap on my bed with BlackJack and Casper.

hehe I'm sure there's a fair amount of this goin' on at your house Aren't cats cool!

[noshadyldy]

[hehe I'm sure there's a fair amount of this goin' on at your house Aren't cats cool![/QUOTE]

Great sound track there! And your right. All my "furry men" sound like that.

[kingofthehill]

16:32 ELN Elan closes sale of rights to Prialt in Europe to Eisai (14.82 -0.19)

Co announces that it has completed the sale of the rights to Prialt in Europe to Eisai Co. Under the terms of the sale, Elan received approximately $50 mln at the closing and will receive a further $10 mln on the earlier of two years from closing or the launch of Prialt in key European markets, and may receive an additional $40 mln contingent on Prialt achieving revenue related milestones in Europe. Elan retains the product rights in the United States

[stocks54]

From Reuters.com

"FDA to extend review on Tysabri - companies
Wed Mar 22, 2006 2:40 AM ET
LONDON, March 22 (Reuters) - The U.S. Food and Drug Administration has told drug firms Elan (ELN.I: Quote, Profile, Research) and Biogen Idec (BIIB.O: Quote, Profile, Research) it will extend its regulatory review of their Tysabri treatment for multiple sclerosis by up to 90 days, the companies said in a statement.

The decision comes after a panel of independent experts earlier this month unanimously urged the return of the drug, abruptly pulled from the market last year after it was linked to a life-threatening side effect. "

Man.. This is going to hurt. 2 months ago I had healthy profit (on paper) in ELN based on all my options. That's all wiped off.

Greed is going to hurt me again. Why didn't I buy PUTS...

[New-born baby]

Yup

ELN taking a fall today. Sorry about that. Jim Smith is right: go find a hot shot stock somewhere else. I know: sounds like heresy, doesn't it? But ELN is going to continue to struggle until the issue is fully resolved.