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Biotech / Medical : IMNR - Immune Response
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To: Robert Knight who wrote (839)7/9/1998 11:09:00 AM
From: AHM  Read Replies (2) of 1510
 
About 15 minutes after the open I covered my short at 12 15/16 and reversed to a long position at the same price. I was surprised that the Schering news release did not have a greater effect and, frankly, with the current bid sitting at 13 5/8 I'm still on the fence as to if I should sell right now and sit out the action until something definitive happens. As I am writing this I entered a sell order at 13 5/8 that was filled.

I have no idea if I did the right thing - but I wanted to lock in the profit. I'm posting this since I have been subjected to a considerable amount of criticism for having been bullish on the prospects for IMNR while holding for most of the past several weeks short positions waiting to see a u-turn. Perhaps today's activity sheds light as to how I trade. I'm not always on the right side of the swing and I frequently leave money on the table. The rest of the day will tell if I sold at the right time or left money on the table.

Good luck to all!
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