MY PICK IS ELN

[DSteckler]

Sounds like it was an extreme case of sell the news.

[Runner]

1 min trend is failing as price is now below it. Expect test of LOD. I also notice prior uptrend line is now acting as R

[spikefader]

Sounds like it was an extreme case of sell the news.

Yep, I read earlier that the drug was approved, and it popped, and then the 'restricted sales' news hit and it fizzled. Buy the rumor, sell the news still works well I see.

[Runner]

Oh I think it is only right to express caution when trading a 1min chart. It always helps to look at higher time frames when trading a 1 min chart. I don’t personally trade 1 min. charts anymore. 60 min chart 15 min is now as low as I go, nothing wrong with getting in on a nice entry off the 1 min, but my experience with them has not been very well. Why such a large time frame you might ask. Well I trade in the direction of the larger degree time frame. If 60 min indicators are moving up most times I’m in good shape with the shorter time frame.

[billyjoe]

My loss is now <5% should I bail ? Is ELN's goose cooked ? Has it shot it's wad ?
Is the party over ? Has the fat lady sung ? Is it the end of the road? Is it "good night Irene" ? That's all she wrote ?
--------billyjoe

[Websman]

My loss is now <5% should I bail ? Is ELN's goose cooked ? Has it shot it's wad ?
Is the party over ? Has the fat lady sung ? Is it the end of the road? Is it "good night Irene" ? That's all she wrote ?
--------billyjoe

The VTP has a nuetral stance on ELN at this point...

[spikefader]

Well that last 2% risk setup failed, and since it's improved technically in my book.

I actually just posted a buy entry yesterday billyjoe. It's green by 1% and some green hope there.

Today I posted that I see the pivot as a good buy location with a 2% stop risk attached.

The long-term fuzzy is still lookin' good for ELN and I'm bullish on it while it's over 14.82.

Good luck all.

[billyjoe]

Spike,
I'm not comfortable with ELN . Seriously thinking about selling and buying EGY.
-----billyjoe

[spikefader]

Spike,
I'm not comfortable with ELN . Seriously thinking about selling and buying EGY.
-----billyjoe

Go for it. ELN looks really bullish to me. Fresh buy signal today on the hourly and very bulllish band action lately. TA points up. Good luck with EGY if you take it. Caution with that tweezer top today though. I think ELN has the better chart right now.

[DSteckler]

EGY is stronger technically than ELN, because the former has been rising on average or above average volume, while the latter has been rising on volume only about 50% of ADV.

[billyjoe]

Good news. I got out of ELN @ 17.07 for a < 5% loss. Bad news. I didn't buy EGY and it went up. Good news . Kids have EGY in their accounts.
--------billyjoe

[spikefader]

That's a respectable loss billyjoe. Good discipline. ELN dropped for the push and then presented another perfect long entry today. I'm very bullish on it but will be happier when it gets back over 16.90, the major long-term trend line.

[spikefader]

Dave and billyjoe, you were right on the money dudes. Good calls.

To the topic of ELN, that perfect entry gave the b/e stop and presented another inv.SHS yesterday, and a triple bottom today. I'm long and green and a hopin' machine! Click the chart to be taken to the full post details.


How many excited ELN bulls out there?? Stand and be counted. I know noshady is one of 'em, and King of course...I've forgotten something I'm sure.

[jiesen]

I'm bullish on ELN, but not in it anymore, and not planning on it right now. I'm too heavily into that sector as it is... I think the ones I've got right now are all better prospects than ELN. PRX is so far undervalued it's just silly. This one's going to take off for sure- Thursday's Norvasc approval just may be the spark to do it, too.

[spikefader]

I'm bullish on ELN, but not in it anymore, and not planning on it right now. I'm too heavily into that sector as it is... I think the ones I've got right now are all better prospects than ELN. PRX is so far undervalued it's just silly. This one's going to take off for sure- Thursday's Norvasc approval just may be the spark to do it, too.

That's a pretty ugly monthly SHS and bearish neckline break for PRX this month dude. But it's in an area of potential reversal at least; it's right at monthly bollinger band support, so it's a good place to be looking to support it long. But it can't afford a monthly close below 17.80 or it's starting to look toasty.