Charles T,
Congrats on your 66%. I would have taken some profits yesterday (if I'd been in town!) By the time I got in touch with the markets it was well on its way down to $1.10 today. Go figure. Next time we need a major price rise, I'll leave town again.
A 40 cent bounce off a share price of 70 cents is not bad. I notice the price runup was caused by small investors (less than 5,000 shares per trade).
A lot of disillusioned shareholders have been getting off the ship over the last 3 days. On the other side, there are a lot of new investors in IMT who bought because they saw the share price continuing to go up. I think they have about 3,000,000 shares that won't be tendered for sale in the coming weeks (even if they're momentum traders!)
Myself, my plan is to hang in with my shares until we get some "good" (or bad) news to make the share price move. Remember, this price spike was caused by an announcement that cancer is curable in mice 98% of the time from a company that has no relationship to IMT. It just demonstrates what can happen to share prices in a market that is looking for the next Diamond Works!
CT, I think you'll see your $1.00 share price soon, probably tomorrow! I don't think we'll see the same frenzied buying and selling we've seen over the last 3 days. The guys that are already in, are in for a while longer.
The BID/ASKS will get larger now. Two cent spreads tell me there were a lot of sellers available today. "Older" shareholders are going to sell only when there's another price runup. "Newer" shareholders are locked in until they can get their commissions back and can get out with no losses.
That's a bad characteristic of us small investors. We hang in for a long time till we've lost almost everything as the price drops. On the other side, we'll take a 20 - 30% gain just when the price is going to take off. We're impatient too soon when it comes to watching our gains increase. We're always looking for the next big winner and the fact is we may just own it now.
For the above, I plead "guilty."
Good luck to all.
Carter B. |
