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Technology Stocks : IMRS racking up y2k contracts.
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To: Nanda who wrote (2132)2/7/1998 11:14:00 AM
From: paul e thomas  Read Replies (1) of 3162
 
IMRS PAST AND FUTURE

I first bought 500 shares of imrs on 1/27/98 at 23 (pre-split) and sold it for a 1200$ profit. I since have bought about 70 times and lost money on 10% of the trades. Most of the time I held the stock for short periods trying to sell near short term tops and buying on weakness. For the last couple of months I have been using intraday charts to spot possible inflection points sooner.I have not really been a day trader as I only bought and sold on the same day a few times. In 1997 I bought and sold 818,000$ atcost which I held for an average of 35 days for a gain of 102,000$ for an annualyzed gain of 131%. In 1998 I bought and sold 605,000$ at cost and held for an average 24 days for a gain of 73,000$ or an annualyzed gain of 184%. I currently own 8600 shares at a cost of 260,000$ or 30.25$ per share and have a paper gain of 116,000$ for an annualyzed gain of 419%. This brings me to the present.In my view we are approaching a point in the not-too-distant future where profit takeing may increase the sell side volume. Fortunately the buying power charts are as favorable as any period in the short history of IMRS. I have hunch we will see a buying climax on February 11. IF the volume spikes well above 1 million shares I will not be surprised if the ask hits 50 on Wednesday or Thursday. If it does I believe it will correct back significantly.I plan to sell 5500 of my IMRS when it does correct back.I hope to again buy somewhere near its next low.I continue to believe IMRS is also an excellent stock to hold on a buy
and hold basis.My concern is not with the stock but rather with the markets perception of Y2K as an investment vehicle. It currently is the best it has ever been based upon the YTK index.The performance of DDIM,VIAS,and ZITL are grim reminders though that when the market loses confidence the results are very painful for those people who believed that only a short term correction was going to happen. The MAD MONK has long been the the most sage of the sage in predicting the effect of Investor psychology on the market. I owe him a lot because he helped give me the confidence to bet so heavily on IMRS. If he is right we still have considerable upside potential.
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