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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (10809)	5/16/1998 2:54:00 PM
From: Robert Graham	Respond to of 14631

I just have look at the IFMX chart. The price is breaking below 8. If there is another day with a close below 8, this stock will be seeing 7.5, and then the next support is to be found at 6 to 6.5, from what I can tell from the web charts. This together with conversion possibilites during next week, the near term future for IFMX selling above 8 is becoming not a possibility. However, if the stock continues to 7.5, I expect a bounce at 7.5 before it continues to trend down further. Part of this depends on the selling pressure that comes from the convertible preferred holders next week. I suggest watching the price of this stock closely tomarrow. I will be writing June 5 CALLs hopefully for a price of 3. Bob Graham

To: Robert Graham who wrote (10809)	5/16/1998 10:33:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 14631

I made one misstatement in my previous post on how I said that the resistance at 8 "can provide a supply of shares at that price for the conversion of preferred shares". I meant to say that the resistance at 8 will provide demand for the shares they will sell once they have converted their preferred stock. This is a good thing. Then I went on to say that if the supply of shared provided by this conversion process causes the price to break down below 8, then the stock will move to 7.5, after which 6 then becomes possible. Sorry. Now, am I the only one that is concerned about this potential for the stock to decline? Bob Graham