Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who wrote (411)	1/4/2002 5:04:33 PM
From: Dave Gore	of 16631

ANATOMY OF IMCL: Interesting action if you look at it. Rumors from last week were all over CNBC and elsewhere last week regarding bad news for IMCL. It tanked as a result with the strongest negative momentum occurring Monday and Wed. morn. Then about 1PM today, the momentum stopped going down on the chart for the first time in 5 days and shortly thereafter the stock rose about 3.7 points from the lows. There was actually a delayed reaction on the chart which would have given all a chance to get in near the lows of the day. A post from earlier this week on this thread was on BUYING DIPS. Some of you might want to go back and read that. It basically says that you should never catch a falling knife when the volume (selling) is still real high. Charts are very useful obviously for determining this point. Like SLR this one needed time to regroup. The easiest money on this stock has been made today and its too bad I wasn't on top of it. I am kicking myself, especially because I called the bottom of the BTK and BBH indices and saw the momentum coming. Nevertheless it's good info to file away.

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