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Biotech / Medical : IMNR - Immune Response -- Ignore unavailable to you. Want to Upgrade?

To: Manny Gugliuzza who wrote (561)	6/23/1998 11:27:00 PM
From: John S. Baker	Read Replies (1) \| Respond to of 1510

Stocks have a limited memory ... or at least their owners do. I would not go back to 1992 to establish a resistance or support level. Anyone who has held that long is a diehard; they will not sell just because they are now .. after six years ... finally breaking even. In my book, any calculation of the real resistance level must be made from an extrapolation of more current data. This is a free-running stock. That doesn't mean it will go to the moon unstoppably. Rather it means that the supply-demand equation is not skewed by historic values. It is dependent upon current estimates of net present value, pure and simple.