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

To: Jill who wrote (7209)	3/31/2005 11:05:23 PM
From: Walkingshadow	Respond to of 8752

<< fascinating to watch them struggling over on the ELAN board. They don't want to give up. >> Well, the professionals have given up: stockcharts.com[h,a]daclyyay[db][pb50!b200][vc60]&pref=G Retailers would be well advised to follow suit, unless they enjoy being the designated bag holder. I thought there would be something of a dead cat bounce when it gapped down the first time, but that didn't happen. With BIIB there was a bit of that. This sort of chart is not unusual after a monster gap down on huge volume. Again, without doubt, ELN is dead money for several years (if it doesn't get delisted first). An excellent short candidate. You could short it here so long as you are willing to be patient (there is a distinct possibility of a dead cat bounce tomorrow). Personally I would require ELN to rally into resistance before entering short, and at this point resistance is very poorly defined. Long positions in ELN now are extremely risky and a fool's game, IMHO. T