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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (5631)	3/1/2005 7:57:43 AM
From: Walkingshadow	Read Replies (2) \| Respond to of 8752

Yes, probably. I just like the way the stochastics roll along, makes for a nice trading stock as you know. Like others in the sector, CHIR has its gap problems too: 139.142.147.218 Monster gaps seem to be all the rage in the biotechs these days. BIIB and ELN just got destroyed yesterday as you know, down about 40 and 55% respectively in one day. And I saw an analysis of BIIB. Even with this news factored in, their revenues and EPS are really minimally affected---revs and EPS are projected to decrease 10% for sure both this year, and projections next year are virtually unchanged by the bad news. I don't usually play those kind of things, but it looks to me like we'll see a classic dead cat bounce today that will probably last a week or two. Several firms are out this morning in defense of BIIB and ELN by the way, and they are rather vocal. I think they are absolutely right, and I think the market will agree. Among other things, there is a very good chance the drug (Tysarbi) will come back to market, but no matter what, the selloff was completely overdone. ELN actually got an upgrade this morning from Smith Barney. T

To: Vendit™ who wrote (5631)	3/1/2005 9:01:01 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Hi Reid, There's a lot of good news this morning in the biotechs. The sector should do well, including BIIB and ELN. Both SIRI and XMSR should do well today also, especially XMSR which is highly shorted (40% of the float) and in the midst of a short squeeze. The index futures are trading up right now, and it looks like we'll open with a modest gap up and some bullishness into the session. Oil has backed off a bit, and the dollar is doing better for now. All in all, should be a plus day in QQQQ, but I think there's a reasonable chance for an afternoon selloff depending on how volume patterns develop. If I were daytrading (no chance of THAT today!), I wouldn't hold overnight, that's for sure. T P.S. The thread is still #1 on the Hot Topics list