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Biotech / Medical : Biotech - Technical Analysis
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To: tuck who wrote (395)6/3/2002 3:21:13 PM
From: Jibacoa  Read Replies (1) of 544
 
IMGN

It seems it may have bottomed at the 3.80 level.

It had an early spurt early today ( I don't know if triggered by your comments<g>) but the volume was nothing like Friday's around 2PM and the spike lasted only 5 minutes.<g>(The up-volume on the first 5 minutes was 39,900 and the down volume on the next 5 minutes was only 12,00)(The volume at 2.05PM on Friday was 661,100 with an up-move<g> from 3.83 to 3.84 in the five minutes)

After the early spurt today to 4.35 the stock has been trying to hold in spite of the general market and seems to show some intra-day support at the 3.96 level)

I think I am tempted to follow the advice of Schaeffer's Investment Research as quoted on page 32 of today's Barron's (The data is actually based on research from Investors Intelligence)According to the data a six months investment of $10,000 from May 1st through October 31 would have returned only $11,743 over the past 51 years, but the same $10,000 invested for six months from November 1st to April 30 would have yielded $425,890 which seems to me to be statistically significant, with a p<0.0001 <g>

So in view of the present market trend and encouraged with the gained hindsight of the aforementioned data, I think I will from now on forget about the Summer rally and stick with the Santa Claus rally and the January Effect.<g>

And that is one reason you won't find me watching the market's performance too close in the next few weeks as I may take a few months sabbatical and expend some more time fishing and at the beach.<g>

siliconinvestor.com

RAGL

Bernard
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