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Microcap & Penny Stocks : IMMD - ImmuDyne
IMMD 0.215-2.1%Jun 21 5:00 PM EST
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To: Irene Lynn who wrote (21)7/12/1996 3:37:00 PM
From: Art E. Holt   of 1249
 
Irene:
Thought maybe I should take some of the thoughts from my recent
private E-mail and get them out into a public arena.
As I mentioned, I have begun working with a new tech indicator called the TCI - or Trading Channel Index. The TCI is derived from
the famous CCI - Commodity Channel Index - which has been used with
much success for many years by futures traders in timing their
entry/exit/position reversals in commodity markets.
In any event, the TCI for IMMD is very near an extreme low from
which an upside reversal could be expected. Additionally, the overall
pattern of the TCI in the IMMD chart for the past few months suggests
we are near the exhaustion point of the downtrend from the first
qaurter all-time high. What I am deriving from this is that, not
only are we due for an upside bounce, but that bounce will quite
likely also mark the beginning of a longer term upside move.
I am comfortable with this opinion, given the extreme oversold
condition of most of the techs, and the conspicuous divergence in
some key indicators which show a consistent pattern of accumulation
over the last 2 months. On balance, the techs are suggesting that
the earnings report due Monday will contain information which prompts
a renewal of buying interest.
Art
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