ELN - Sector: Healthcare - Industry: Biotechnology & Drugs

[AustinPowers]

Does anyone think the Elan chart looks good right now It had some positive news and a nice rally today.  Sorry, I don't know how to copy the chart here.  Fantastic site, very new at this but learning so much.  There are some very experienced traders here.

[calven]

Wow I think I like this trade! Nice ascening triangle forming...I will look to buy in tomorrow on any weakness ($6.40-6.50) . However I willl have a stop loss in place just below that green support line($6.10). It could drop fast should that support break.

[AustinPowers]

Cal-

Thanks for posting the chart.  How do you cut and paste from stockcharts into th the email?

[stocky]

" Porges reiterated his stance that for Tysabri ever to return, it would have to conduct several years of additional trials and would be suitable for far fewer patients. He estimates the probability of the drug ever returning to the market at 35%. "We view any gains for Biogen Idec or Elan stock on this news as unwarranted, and would advise clients to sell on the strength," Porges wrote. "

If ELN crosses 8.5 on large volume then there may be some good news in the waiting. However, at the moment its quite risky.

[eliteG]

I agree with stocky...there are better plays out there..but if you must, be light on your feet, imo.

[calven]

I definately agree with that analysis...thats why i advise a tight stop loss. Go to additional options below to post charts.

[calven]

ELN has come to far to fast in my opinoun. From 3.00 to 8.00 . That resistance of 8.40ish seems to be pretty heavy. I still do like the trade but would like it even more if ELN broke up to 8.75-9.00 on good volume...Again I emphasize a tight stop loss just below that green line on the chart.

Good luck. Ill be buying in tomorrow...

[bula]

ELN just spiked from $6.75 to $7.18 on very heavy intraday volume.  Bought at $6.95 and watching close for any news.  Could be the next runner.

FYI.

[bula]

ELN is an erratic trader and only for those with quick triggers. But ELN is moving nicely today.  Great momo now at $7.20. 

Biogen (it's Tysabri partner) has a big investor conference tonight and although I hate rumors, many are speculating that the recent study on the Tsyabri debacle is complete.  Good news is anticipated soon. 

So as the old saying goes .. "buy the rumor"

[bula]

Well well        Gapping premarket $7.3.  Should see nice gains today.  Looking for $8 this week.

DJ UK PRESS: Elan Parkinson's Vaccine Works On Mice-Research   
06/16/2005
Dow Jones News Services
(Copyright © 2005 Dow Jones & Company, Inc.)

LONDON (Dow Jones)--A Parkinson's disease vaccine being developed by Elan Corp. (ELN) works well in mice, according to research conducted at University of California, San Diego, the Financial Times reported Thursday. The news might help ease downward pressure on the Irish biotechnology company's share price, the paper says.   The researchers said the vaccine might also work for Alzheimer's, which produces clumps of the same protein in the brain. The research will be published this month in the journal Neuron.

[JMoney]

ELN is moving on high volume.

[bula]

Well it looks like the Tysabri results may finally be coming in.  Those that held and were patient will see some nice rewards.   Premarket bids opened at 10 today.  Could be an enormous day.  A joint Biogen and Elan conference call is scheduled this morning prior to the open.  If Tsyabri is cleared from issues related to past deaths, this one could see 15-20 quickly .. particularly since Elan was 27 before the drop to 3 six months ago.

We'll see soon.
Bula

[TVandenbosch]

Am in @$9.25, way too late I am afraid. 
Let's sit, relax and wait... 

[cumulina]

I'm with you...couldn't resist.

Got in at 9.19

Still doing fine in Europe: http://finance.yahoo.com/q?s=ELA.L&d=t

Good luck to us

[pollax]

Hi - im in from 6 and sitting and waiting to take my profit. Stupid or what? Should i aim for more? Anybody who has a target - how high is possible for this one to go?

pollax

Yes im danish