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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (443)	5/26/2005 11:34:08 AM
From: Kevin	Read Replies (1) \| Respond to of 4814

I thought this was an interesting quote that I read on the Bloomberg this morning, regarding Elan's situation: ``Without Tysabri, Elan is dead,'' said Andy Smith, who manages $50 million in assets at Bioscience Investment Trust at Schroder in London, and who doesn't hold Elan shares. "This is not a case of a chief executive being optimistic; he's fighting for survival with a drug that's been shown to kill two patients.'' Personally I've never been comfortable owning shares in a company with a single product (or single client). -K

To: Jill who wrote (443)	5/27/2005 6:27:21 AM
From: Walkingshadow	Respond to of 4814

Yes, ELN has filled one upside gap, and formed an evening star now with a gap below. stockcharts.com[h,a]daclyyay[dc][pd20,2!b20][vc60][iLyb20,2.0]&pref=G I cannot make out much in the way of coherent resistance levels other than gap resistance, where it looks like ELN is in trouble now. It is very overbought. You are right, it was a heck of a dead cat bounce. But personally, I wouldn't touch ELN on the long side. The stock is in a downtrend. I think it will still be in a downtrend a year from now, and once the distortion from these monster gaps is sorted out, will be a good short as it rallies into resistance that is still poorly defined as yet. KKD may have found a bottom; the most recent low was higher than the previous: stockcharts.com[h,a]daclyyay[dd][pb50][vc60][iLyb20,2.0]&pref=G The slope of the 50 sma has softened as well, indicating blunted downside momentum. I'd say KKD will proceed to consolidate down there in a trading range for a while. T