AMLN - comments?

[spikefader]

Just bought more (doubled up) at 19.4. I'm putting a stop at 18 on this position. I'm at about a 2% position in AMLN now.

Well you've got three things going for you that may shape up in the face of all the bearish things; price support; 50% retrace of the big recent move; and a channel long day today with entry down near intraday S1 (S2 18.83 would be better but if 19.10 double bottom forms and responds, you'll be sitting pretty).

You're better off using VPHM's own support resistance areas.

Anyway, good luck with it!

Spike, thanks for the input. What you recommended is in fact what I've decided to do. Another thing with the chart, if you draw a straight line from 1.67 to 6.62 to 10.14, you'll see that the price has not come below that line, so I ascertain that VPHM is VERY strong.

My stop is under yesterday's low.

[jiesen]

Bought AMLN at 19.4

Just bought more (doubled up) at 19.4. I'm putting a stop at 18 on this position. I'm at about a 2% position in AMLN now.

[spikefader]

well now I'm confused.....
yhoo says it's in biotech

http://finance.yahoo.com/q/in?s=VPHM

Well, whatever group it's in, let's face it; its recent price action is ignoring any leading index. Check it out relative to $BTK and it makes sense to NOT base any decision off $BTK's price action. I just don't see it directly relevant to it right now. You're better off using VPHM's own support resistance areas.

Anyway, good luck with it!

[spikefader]

Thanks for the chart, Spike. That'll help me rethink my VPHM position.

Well just remember that VPHM is in a different group; it's in NC Health, so would the Pharma Index lead/influence that?

Another point: VPHM is current in No. 8 best potential in that group according to equitytrader.com, so don't be too quick to write it off.

On the technical side, I have a wave count of a possible 5wave abc with the c at 10.60 on Fri that has been bought nicely today, and a bullish hourly PSAR with rising money flow about to hit 70.

On the weekly, it still looks like it's in a 3. Daily and weekly money flow is great. The daily gap support strongly.

I think it's going up. I'm expecting a channel turn up by close tomorrow, that green lights chasing the closing price or Wednesday's intraday pivot.

Failure of C is bad and the time to exit.

Thanks for the chart, Spike. That'll help me rethink my VPHM position.

[spikefader]

Thanks for the technicals, Spike. I'll try to use this to better time my next AMLN entry, as well as put a tight stop on it this time. My initial position will be held for 50 or bust, but I don't want to throw too much at this one stock... yet, anyway.

Sure, any time. May the Pharma investors be blinded with bullishness for ya

Ya know, I just looked at the Pharma Index, and that's definately not helping AMLN's cause:

[Websman]

I'm still happy with my 50% gain on VPHM. Maybe I'll get the chance to do it again!

I already stopped (20.10), because it fell below the 200 day moving average (another bearish sign).

[jiesen]

Hate to post bad charts guys Hope I'm wrong on the weekly and right on the daily channel long today and it leads to some bullishness for anyone long without stops!!!

Thanks for the technicals, Spike. I'll try to use this to better time my next AMLN entry, as well as put a tight stop on it this time. My initial position will be held for 50 or bust, but I don't want to throw too much at this one stock... yet, anyway.

[spikefader]

Hate to post bad charts guys Hope I'm wrong on the weekly and right on the daily channel long today and it leads to some bullishness for anyone long without stops!!!

[jiesen]

AMLN Prescription update

http://members.cox.net/mystock/Amylin.htm

Prescriptions are up to 4000/week now between the 2 drugs. I'm not sure when this share price correction will end, but I think I might pick some up around 19... We may see your target, too, Webs, but I wouldn't count on that.

It also might help to have a few more data points to better see the big picture, but as of July we're doing at least $15M/year and I think that it could at least quadruple by the end of the year. Probably by September the picture will be a lot clearer, but, if the numbers are good then the opportunity to get AMLN under $20 will be gone.

I think another thing to consider would be how expenses are racking up alongside the revenues. The one thing that could still kill us despite record revenues, is record losses to go with them. Hopefully, sales growth will be strong enough to put AMLN on a trajectory to a profit within a few years.

[Websman]

I have performed my logical Vulcan analysis and have found the perfect entry point for AMLN.

AMLN gapped up on June 14th. As of this date this gap has not been filled. I'm going to be patient and place my bets that the gap will fill and I will be able to buy AMLN for $17.92. Of course right after it fills the gap AMLN will score some huge gains for my wallet.

Worst case scenario is that I'm totally wrong and I miss out on a good opportunity.

[Websman]

I'm with you on this one Webs. This looks like a great opportunity for an entry. Just be patient and watch it in the morning to see which way the wind is going to blow with it tomorrow. You just might be able to get it cheaper. This stock should easily go back up to 23.50 range which would be a 1.5 point gain if it just does that. It definitely could be more.

I wish I could watch it, but I'll be at work. I'll have to set a limit order and hope for the best.

[skiracer]

I'm with you on this one Webs. This looks like a great opportunity for an entry. Just be patient and watch it in the morning to see which way the wind is going to blow with it tomorrow. You just might be able to get it cheaper. This stock should easily go back up to 23.50 range which would be a 1.5 point gain if it just does that. It definitely could be more.