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Technology Stocks : IMRS racking up y2k contracts. -- Ignore unavailable to you. Want to Upgrade?

To: paul e thomas who wrote (2415)	4/26/1998 10:13:00 AM
From: Les H	Read Replies (1) \| Respond to of 3162

The 1 day chart of IMRS indicates still declining money flow intraday. A retest of 30 is suggested as the money flow line is at a double bottom at 30.

To: paul e thomas who wrote (2415)	4/26/1998 10:41:00 AM
From: giddy guru	Read Replies (2) \| Respond to of 3162

//gg// Paul, Here is my two cents worth of technicals on IMRS. On April 7th IMRS broke the upward trend line and fall below 37. During the next week, an immediate attempt to climb back above the trend line was failed. April 16 spinning top shows the indecision. On April 17, 21 and 22 the stock was just staying in the same place. A huge hammer on April 23 showed the trend reversal has been confirmed and predicted what's coming up. Confirmed by huge drop on April 24&25. The drop on April 24 was more bothersome since it pierced the 13, 26 week ema and went down all the way to lower BB. In short, IMRS will make a bounce next week but doesn't have too much upside and will not make a new high in the short term. On the contrary, $25 support level will be challenged, if the whole market turns sour. Market makers game will begin next week. Inventory accumulated during the last week slump will be exhausted at a higher price while simultaneously the stock will be shorted. The lift in the prices is also to suck in more call buying, which eventually will go waste during the May and June expiry. By July the direction will be dictated by more fundamentals, sector outlook and the overall market. Of course, this is just my opinion. Interpretation of technicals may vary. Even if everyone concurs, technicals can deceive many times. On my trading account, I went long on Friday towards the close. /gg/

To: paul e thomas who wrote (2415)	4/26/1998 7:01:00 PM
From: ThirdEye	Read Replies (1) \| Respond to of 3162

Paul and all: Thanks for your analysis here and elsewhere. What I know is that IMRS has tanked a number of times, and every time it has come back very strongly and reached new highs. Ever since I first purchased shares in January 97 at a split adjusted price of about 9, IMRS has tanked at least 5 times I can name. First, after their initial earnings report as a public company in January, from 22 to 17-18. Then a 50% drop in March, 97 from which they rebounded powerfully to become the class of the Y2K heap. Then again last summer, they dropped; November, 97 was a 30% drop, roughly; and now another 20% If we look at this plunge in terms of pre-split prices, they went from roughly 60(40) to 45-ish(30), a complete retracement from where they were when they reported last quarter's numbers. All along, the institutional ownership has been rising. I have this funny feeling that the institutions create their own buying opportunities by selling some of their positions, precipitating a price drop and buying back in with more shares. However, anyone who bought at the low in March 97 and held, would be up by 500%. Risky? Nanda? All of which is simply to say that, regardless of whether you believe technicals or funadamentals will rule in the short term, what is also going on here is a repeating pattern that has not stopped IMRS on its inexorable march to becoming the $2 Billion company Sanan is intent on becoming. Yes, there may be a temporary technical correction, or even a shift to a more funadamental valuation of IMRS as it asserts(for the second time)a decreasing dependence on Y2K. As for the backlog, recall that two quarters ago it was $90 million. Now Sanan refuses to comment, except to say it is bigger. I call that bullish, regardless of where the money is coming from. As for margins, I think Sanan is simply saying they will not be skipping a beat in transition to new outsourcing work. There seem to be namy opinions here and no consensus on whether it's up or down. I still think the long term trend is up.

To: paul e thomas who wrote (2415)	4/27/1998 9:46:00 PM
From: paul e thomas	Read Replies (2) \| Respond to of 3162

COMMENTS ON MONDAY PRICE ACTION IMRS did open weak as I expected but did not show any real upside movement intraday. I believe however that given the slash and burn treatment other stocks previously performing well that IMRS did rather well on a relative basis as it was down less thsn 2%.In looking back at the November Correction it appears that IMRS seems ready to bebound. The current correction is a 40% retrenchment of the mid November to mid April gain.I am thinking about buying 10 May30 calls if Margin permits as I believe stock will hit 36 by May 15.