ELN Breakout Watch

By Johns Wu on Nov 15, 2005

I’m bullish on the whole Tysabri news, but I totally didn’t expect this breakout. This is the highest ELN has ever traded since Feburary 28 when Tysabri was pulled. I had personally expected ELN to see resistance at the downward sloping trendline, but two upgrades from brokerage houses gave ELN the momentum to plow right through both extremely strong resistances. Because the stock gapped down so brutally on Feburary 28, there is no resistance above until around $28.

I’m not sure what will happen now. I’ve traded ELN many times in the past, both successfully and unsuccessfully. From my experience with this stock, I have good reason to suspect that this stock is highly manipulated on the street. If you thoroughly investigate the connections between ELN, brokerage houses, hedge funds, and the media, I totally wouldn’t be surprised if you discovered some fishy business. So be careful with this stock.

I’ve been out of the loop on ELN for awhile, but there are rumors floating on message boards that the FDA is soon going to rule on whether or not to grant the Tysabri sBLA a priority review or not.

My speculation is that the FDA will grant the Tysabri sBLA a priority review, but that’s just my opinion. I probably won’t be trading this stock at the moment, but feel free to leave any comments on what you think of the whole Tysabri situation.

This entry was posted on Tuesday, November 15th, 2005 at 12:38 am and is filed under Annotated Analysis. You can skip to the end and leave a response. Pinging is currently not allowed.

9 Responses to “ELN Breakout Watch”

By Anonymous on November 15th, 2005 at 1:25 am

10$ and congrats to all
by: pinvestment 11/14/05 02:54 pm
Msg: 819242 of 819877

but this is still an unfolding story - many still have to come to realize where tysabri is headed into the future - and the real news really isn’t out yet

be patient and prosper

but if ty does get the 30-40% of the MS market i think it can - that is 6-8 billion of revenue from the MS market alone

a nice story can play out while the data from the aab-001 trial comes along

nobody talking about it - but where is the trial restart - IRB and protocol OK should have been completed

By Denis on November 15th, 2005 at 5:46 am

But be cautious if you’re swinging becuase sell volume is high and increasing and RSI is way high indicating ELN’s overbought. Not to mention 6 wk chart’s looking parabolic… just waiting for that shooting star to form…\

By PeersCarter on November 15th, 2005 at 11:41 am

I have heard that tysabri will be back a lot earlier in 2006 than is being priced in current PPS.
Look for more contract announcements on Nano licensing to add fuel to any PPS rises.

By Anonymous on November 15th, 2005 at 12:08 pm

ELN caught me thinking it was going down to test lower lows also, guess I’m wrong for now!

By Anonymous on November 15th, 2005 at 5:35 pm

There must be more news than just Tysabri on the way. everybody including my cat knows that T will be given priority review. There is something else coming. What, i don’t know. BIIB and WYE not moving at the moment either. Strange???

By Anonymous on November 15th, 2005 at 10:06 pm

Jeff Krasner can eat my shorts!

By Anonymous on November 15th, 2005 at 10:19 pm

Yeah, ELN may be manipulated etc but I object to your phrasing:

“If you thoroughly investigate the connections between ELN, brokerage houses, hedge funds, and the media, I totally wouldn’t be surprised if you discovered some fishy business.”

This gives the impression that Elan is party to the fishy business. Not so. Elan is just the playground, for now.

By v101nvstr on November 16th, 2005 at 4:43 am

Thanks to Pin who awakened me to the potential of eln clear back in May am beginning to reap the rewards of his sound advice. Thank you Pin.

By i need a bigger wallet on November 17th, 2005 at 2:37 pm

get on it!!!!
march the 1st 2005 chip paper will be 2006 news!!!!

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