3SOF

Thanks Goldie.

cup and handle formation in the making. handle is almost done forming on descending volume.

http://www.thebulltrader.com/2005/09/06/eln-cup-and-handle/

should be a good day for ELN:
Elan and Biogen Idec Announce TYSABRI(R) Safety Evaluation Findings in Crohn's Disease and Rheumatoid Arthritis Patients
Monday October 17, 2:30 am ET
TYSABRI Safety Evaluation Complete
No New Confirmed Cases of PML

DUBLIN, Ireland & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 17, 2005--Elan Corporation, plc (NYSE: ELN - News) and Biogen Idec (NASDAQ: BIIB - News) announced today that findings from their safety evaluation of TYSABRI® (natalizumab) in patients with Crohn's disease (CD) and rheumatoid arthritis (RA) resulted in no new confirmed cases of progressive multifocal leukoencephalopathy (PML). The companies have previously reported that findings from their safety evaluation of TYSABRI in patients with multiple sclerosis (MS) resulted in no new confirmed cases of PML. Three confirmed cases of PML were previously reported, two of which were fatal. The TYSABRI safety evaluation is now complete.
On September 26, 2005 the companies announced that they submitted a supplemental Biologics License Application for TYSABRI to the U.S. Food and Drug Administration (FDA) for the treatment of MS. The companies also recently submitted a similar data package to the European Medicines Agency.

More than 1,500 CD and RA patients from clinical trials were eligible for the safety evaluation. A total of 88% of these patients participated in the safety evaluation. In total, 98% of the patients participating in the evaluation had a neurological exam by a consultant neurologist and an MRI exam.

On February 28, 2005, Biogen Idec and Elan announced that they voluntarily suspended TYSABRI from the U.S. market and all ongoing clinical trials based on reports of PML, a rare and potentially fatal, demyelinating disease of the central nervous system.

I thought so too.  Bought in the morning.  Closed where I bought it.  Still,  if these new findings bring Tysabari back to the market, I think the stock has bouyancy and will rise back into the 20's.

Prfsr Hal

Loaded up AH @ 10.60, should be interesting. Buyside out numbers sell 4 to 1. We got as high as 11.41, last AH trade @ 1.11.

AP
Tysabri Drug Gets Priority Review at FDA
Thursday November 17, 6:13 pm ET
Regulators Grant Biogen Idec, Elan Priority Review Status to Resubmit Tysabri Back to Market

NEW YORK (AP) -- Biogen Idec Inc. and partner Elan Corp. said Thursday that regulators granted priority review status to their application to bring the withdrawn Tysabri multiple sclerosis drug back to the market.

The Food and Drug Administration first approved Tysabri last November, but the companies pulled the drug from the market in February after it was linked to a fatal brain disease. The priority review label means the FDA plans to rule on the medicine in six months instead of the standard 10.

The agency also said that the application, which Biogen and Elan submitted in late September, was complete and could proceed into the formal review process.

Shares of Cambridge, Mass.-based Biogen rose 29 cents to $45.10 in recent after-hours trading, while Ireland's Elan saw its shares jump 43 cents, or 4.2 percent, to $10.73. Shares of Elan, a much smaller company, have been particularly sensitive to Tysabri news.

I really like the way the chart is positioned right now. ELN broke through resistance at $10 and is consolidating above its new support line, and there's nothing but free air up to $25.

Bought in at the low-mid 8's.  I had a feeling that this would happen.  Nearly nearly hit the sell button two days ago.  Tomorrow's gonna be fun.  Let us selfishly and altruistically hope for no more trouble.

prfsr ahal

Hey Professor, I recognize you from Trudy's group. Unfortunately, other than CRXL, everything else there is a pump and dump. I like 3SoF much better.

News AH...stock gapped up over 11 just as I suspected...

http://biz.yahoo.com/ap/051117/biogen_elan.html?.v=1

This ones going to be on FIRE up to at least $12.25!

Here was the chart I provided for my members....

In at 10.80 - More fighting at this level than iId like to see, but still believe the surge will move this up.

Wish I'd had time to open this thread earlier in the week.

Quote from: KCScott on November 18, 2005, 11:55:42 AM
In at 10.80 - More fighting at this level than iId like to see, but still believe the surge will move this up.

Wish I'd had time to open this thread earlier in the week.

Me too! Got in at 10.89... 

This will make its significant move only on news, don't you think? If Tysabri turns out to be as good as they believe and as benign, we should be bouyant back to the 20's in half a year.

Prfsr Hal

Lately ELN has been behaving nicely.

There is a lot of speculation on the yahoo-board about Tysabri, fuelled by this interview:

http://business.timesonline.co.uk/article/0,,9068-1910578,00.html

Anyone else holding ELN?

I have been long from 5.75 and as you can asume I am very happy that my gut was right.

ELN just keeps going up...

So far (since nov. 20) it is up 21% from my entry of 10.89...

And I think it has a lot more to offer.