I wonder if any gamblers noticed my post 334 on the GMC thread yesterday.
It looks as though bottom fishing can sometimes pay off.

Suidd and The Master - there are 3 of us on this - I am in - good luck - would be nice to double before the end of the tax year.

We bottom fishers are supposed to be solitary creatures, but welcome anyway to the deep.
sd

Question - Why do you guys think the sp collapsed so suddenly? What makes them a buying opportunity right now? Why this stock, Squidd?- I did read your GMC opt-out post, yes.

Poor write up in this week IC - recommended 'Sell' quoting uncertainty following MS drug suspension. Also concerns over ability to service debt & unlikely to meet profit targets in 2006.

g64946: I agree with I.C. about ELA finances, but I think much of this was in the price before the crash, when most brokers were saying 'weak sell'.
And on 9-02-05, incoming chairman, who I believe also heads Dublin's biggest stockbroker, bought 214k of stock at the old price. Now the risks are in the open, we can buy at around 1/4 this price.
Obviously for gamblers, but so was GMC.
sd

markusantonius: I can only answer your query in general terms about recovery plays. In panic selling, as has happened on Wall Street with ELA, owing to a question mark against a flagship drug, the doom and gloom is sometimes overdone and this might produce a bargain situation. Rothschild is supposed to have made his fortune buying what everyone else was selling (and by then selling too soon).
Read all about it on the US news sites who use ELN.L as the epic for ELA.
sd.

Dont be in a hurry to jump in yet - my view. There is still some downside left before the inevitable bounce. Dropped 6% in UK today

You have to jump in at some point as you never know where the end is - if only I had a glass ball I would take your advice daokta.

And now for the comic relief bit as another predator joins us on the ocean floor and circles around ELA.
Hungry US lawyers have filed a class action accusing ELA of exaggerating the value of their drug and talking up the value of their shares pre-crash. Obviously believing that Blair's WMD virus haa spread to the stock market, they are advertising for newly impoverished investors to contact them - toll free.
I'm thinking of asking whether they can recoup my losses on Redstone and Marconi.
sd.

Looking for precedents among other great fallers, came across Cobra Bio which was strongly tipped by Trendwatch in December 03 and was Investors Chronicle 'Share of the Year' for 04. Two profit warning later, it had fallen 80% (same as ELA), and is now being followed upwards, elsewhere on this BB.
So hoping that I.C. got it wrong also with the sell recommendation for ELA. But the fall of 6% on Friday was worrying (CBR only fell 3%). It appears they were buying ELA in LOndon but selling on Wall Street.
Any thoughts on where the stop loss should be?.

ELAN just rated 'Strong Buy' on U.S. STOCKPICK report, (ELN NASDAQ) can be viewed on Yahoo. Hope this counters I.C. views.
sd.

Great news 'Squidd' sp will lift-off when the America wakes up around 2.00pm

We will show them!

I continued to buy this share after the second crash and now, following an upbeat statement from the ceo, it seems to be crawling out of the pit at last.
Any further thoughts out there.
sd.

ELA certainly seems to on the road to recovery as the new chairman makes a huge stock purchase and many medics are saying that with all its faults, their flagship drug Tysabti can't be worse than the disease.
sd.

looks like confidence is returning.

Maybe was that confidence short lived?? The market has not taken the same view as the chairman. Any thoughts?

Have just added in my ISA. Mine was the 3503 buy via comdirect after baling out of ARK. Hope I got it right, but it seems to me that with all the gloom in the AIM market it's safer either to be in cash or in shares that have already plunged.
sd.

according to another site.......Rumour......Elan Corporation (ELN) $5.87 to be bought by WYETH (WYE) for $14 per share.....dyor

Wisemove: Thanks for that titbit; something certainly moved the price today, a bit marred by a hefty sell at the closing bell over here and little movement on the NASDAQ for either ELA or Wyeth. But looking forward to tomorrow.
sd.