IMMM ( I'm Mad Monk) Message Board

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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)

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To: alchemy who wrote (826)	5/18/1997 8:09:00 PM
From: TATRADER	of 1480

martin, even though this stock moved up on low volume and is suspect, I have some TA which may prove helpful from a trading aspect....I follow 7 different oscillators that have been quite reliable helping me to determine if an upward or downward move is legitimate or not... I feel that IMMM has the potential this week to move to my initial target of 37 cents....I peg about 1.9 million shares of overhead in the 31-37 cents area..The next resistance area is the 75-84 cent area where I peg 1.5 million shares of overhead, and 1.8 million in the 93-1.06 area....These areas are helpful to calculate if you are a trader as I am...My Commodity Channel Index has flashed a buy at -55...It moved above -100 on Friday...My MACD experience a crossover at -0.719 by -0.0757.... 10 Day Exponential=22 cents 21 Day Exponential=28 cents 50 Day Exponential=43 cents 100Day Exponential=55 cents I have been carefully watching many penny stocks and how companies at times tend to pump and dump their stock, to accomodate the warrant people and Regulation S mob....Since the company has not clarified to the shareholders yet if there has been some financing going on, I will assume there has been and play this stock with that in mind...As far as I can see, the pump phase has not yet taken place, so if you took a position recently as I did, we should be able to ride the initial wave....As I watch my indicators I will attempt to determine if the move continues to be legitimate or if pullback and churning is coming....A lot of people may laugh at TA being used on these small stocks, but I am working on perfecting a trading system on these penny stocks that will be highly profitable....Am looking forward to the action on Monday....You can learn so much from studying each of these little stocks....Regards and hopeful, Mark

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