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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (4239)	6/29/1998 4:17:00 PM
From: wizzards wine	Read Replies (1) \| Respond to of 34809

Is THIS what they call a Dietz thing?? Ok Tom, IMNX has climbed from 60 to 70 for a 15% gain. The last 2 climbs went to 73 and before that 75, both reversed down for a correction of 60 to 70% of the run up. Besides Tom, RS is in O's..... I look for it to go to 64 before breaking a double top at 71, if it can do it. Look at the chart and you notice that after a straight run up without a reversal, this one likes to then make lower tops and bottoms.. Looks like the play on this is one off the bottom, selling on the first reversal, at least for now. Only my thoughts Tom Later Preston

To: Jorj X Mckie who wrote (4239)	6/29/1998 4:44:00 PM
From: Judy	Read Replies (1) \| Respond to of 34809

Tom, On story stocks I am guided by the story and the market's sentiment. Recall on cmig and rmbs, proper entry was at times when their charts were going to hell in a handbasket ... Examine CBSL, SYNT, IMRS ... the yr2k sector is the midst of its move, up of course.

To: Jorj X Mckie who wrote (4239)	6/29/1998 5:19:00 PM
From: Bwe	Respond to of 34809

Tom, IMNX is at a very dangerous juncture at this point in it's chart pattern. A move to $64 would be a High Pole Top at the Bearish Resistance Line (HPB) which Chartcraft considers to be a deadly formation with the NYSEBP in a bearish mode. IMNX has had a few HPT since late '97 and each time that pattern occurred the stock suffered a serious decline. Please note the following HPT's and their subsequent lowpoint after the pattern reared it's ugly head: 11/97 @ $68 ----> $53 (lowpoint) 12/97 @ $55 ----> $46 1/98 @ $51 ----> $48 2/98 @ $62 ----> $58 3/98 @ $66 ----> $61 5/98 @ $66 ----> $58 The post HPT prices do not tell the whole story here as many investors bought at the highs and were left "holding the bag". The HPB in May at $66 came after a run up to $73 and there are many investors who bought there that are still waiting to get out even I'm sure. The stock is making lower highs in '98 ($75 in March, $73 in May, and $70 in June if the stock has a HPT) and lower lows. I don't know anything about the fundamental story at IMNX, but my interpretation of the stock's chart is screaming avoid. Should the stock have a HPB at $64, I suspect the stock will move below $58. If there is a terrific story here, that's where I would initiate a position. It's going to take a nimble trader to make money in IMNX in my humble opinion. Take care, Bruce