That's much more code! Yes it is, but have a look at the following example:
<a href="#" class="show-entry">Post a new entry</a>
--- somewhere else in your app ---
<a href="#" class="show-entry">Why don't you post a new entry?</a>
$$('a.show-form').each(function(el){
el.addEvent('click', function(e){
e = Event(e).stop();
$('entry-form').toggle();
});
});