by the way this stock is dead money $$$$$ for the next 12 months, it will be sold before it ever makes a profit. Tysabri will only be a $500M drug at best, BlACKBOx Label will restrict its sales. It will not make Elan a profitable company.
How can this possibly be a good sign today. Biogen rallied back almost 7 percent and Elan after starting up almost 6 percent was sold relentlessly to end up DOWN almost 1/2 percent , this on a day that the market was strong. This sets up real bad for tommorrow , when day traders realize they didn't get the dead cat bounce they were hoping for and move on to more fertile ground selling their shares on the way out the door.
You really do get carried away with the grey cloud thing. Look, maybe it's best that we admit ELN common has been in the hands of WEAK LONGS for a long time. We always begged for the instiutional percentages to be higher, but it did not happen. So lets none of us, longs or shorts, pretend to be surprised with how easy it is to keep this this thing pushed down. But let us not pretend that there aren't professional BIG buyers scooping up all the shares without breaking a sweat. They don't need to chase this at all, thus they don't. There is enough supply to feed all of them.
Margins calls, funds, weak longs AND little shorts, the selling is surely massive. But I don't think it's holding steady because of the general market. It's holding steady because there are enormous salivating hands pulling it all in.
Whose hands are these? We won't find out until they make their play, and then you'll say "Oh yeah, now I get it!".