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

To: Austin who wrote (11068)	6/17/1998 8:19:00 AM
From: John Solder	Respond to of 14631

They sensed I was ready to bail on this sick puppy.

To: Austin who wrote (11068)	6/17/1998 8:28:00 AM
From: Robert Graham	Read Replies (1) \| Respond to of 14631

As you know, when NASDAQ goes up, not all industries and all stocks in each respective industry follow. There are stocks that may be in their own situation particular to the individual stock which sets them apart from the rest of the market. IMO IFMX has gone up but not because of an up day for the NASDAQ. This stock is now followed by a different group of trader who are betting on a turnaround of the company and do .I find that turnaround candidates like IFMX do not trade with the rest of the market. I am getting ready to write another batch of CALLs on this stock. I still think the bias of the stock is still down and more selling interest will show up at higher prices as the stock moves to 8. 7 may prove to be the new support. This is why I am waiting for the stock to move higher before writing the CALLs. At this point I am waiting for the price of the stock to validate the support level of 7 or continue up. If renewed selling interest comes into this picture and the stock invalidates 7 as a support, then I may write the CALLs near 7 expecting the price to move down towards 6 again. This stock has been volatile which I am hoping yo continue using to my benefit. Bob Graham