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Elan Corporation, plc Message Board

  • tagetlocman tagetlocman Mar 8, 2006 10:06 PM Flag

    You guys are over excited

    The stock gapped to 16 and basically stayed there. Why?

    Typically after great news the initial gap up in extended hours is as high as it goes near term.

    I will be pleasantly surprised to see ELN go over 20 tomorrow, but experience with the markets tells me 16 is about it for now.

    Makes no sense, but that's the way it is. News only drives a stock so far. There are alot of people who bought this stock for this event, and alot of them will be selling. The news was expectected by most here, and if that is any indication (a poll if you will) then most expected TY to be endorsed.

    Also, ELN is an NYSE stock which is controlled by a specialist, with his (her) own agenda and desires. The specialist will be shorting the crap out of this stock tomorrow to maintain order. Over the next few weeks, as interest wanes (by the daytraders) he will slowly cover his shorts from tomorrow (all the while lowering the price) and only then will he allow it to go to the next level.

    Good luck tomorrow and keep your expectation within reason and you won't be so dissappointed.

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