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Biotech / Medical : IMNR - Immune Response
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To: Manny Gugliuzza who wrote (416)5/28/1998 12:46:00 AM
From: John S. Baker  Read Replies (1) of 1510
 
I agree, in general, with your TA analysis.


But I also note the aggregate MFI figures. IMNR share prices peaked in September, taking the MFI up with them, but MFI stayed level when the stock price fell back. IMNR peaked again in December, carrying the MFI to yet another higher level, and when the stock fell back, MFI stayed up. And then the MFI added a bit more in late April. And there has been no appreciable decline in MFI since the peak on May 6th.


If one subscribes to the opinion that aggregate MFI represents "smart buyers", then this would suggest that IMNR is under some serious accumulation by "smart money" and that pullbacks are the result of "small investors" and day traders. This also suggests that the stock right now is one heckuva buying opportunity.


Other interpretations welcomed.


(FWIW, I do not consider myself to be a TA expert, and use TA not to select my investments, but to help me refine the timing of my investments.)
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