looooooong gone !!!!!!!!
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Weekly chart...............
This chart "lags" the daily, but improvements are beginning to show up
Notice the perfect fit of the last two week's open , close, high and low with the previously drawn lines. Even though an unusual fundamental week, the technicals held up - much to my surprise actually !!!
There might be something to this charting thing after all ---:o))
http://stockcharts.com/h-sc/ui?s=IMGG&p=W&yr=2&mn=3&dy=0&id=p20239047698&a=207192102
Re post chart update with chart.............
This chart is looking GRRRRRRRREAT!
This is a textbook advance, just the way I like to see them - nice and steady on good volume.
The last three candles form the 3 white soldiers pattern, although not EXACTLY as the definition demands, but very close ( close enough IMO )
Def: A bullish reversal pattern consisting of three consecutive long white bodies. Each should open within the previous body and the close should be near the high of the day.
This pattern with the high volume, with the momentum indicators all gaining strength says "more up to go"
Expect the .28 to .33 orange area to slow things down a bit and possibly create a bit of a pullback, but if all else remains the same, and it may take a few tries, but I expect that zone to be broken to the upside
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=4&dy=15&id=p00300125174&a=195071609
Chart update-late today.........
This chart is looking GRRRRRRRREAT!
This is a textbook advance, just the way I like to see them - nice and steady on good volume.
The last three candles form the 3 white soldiers pattern, although not EXACTLY as the definition demands, but very close ( close enough IMO )
Def: A bullish reversal pattern consisting of three consecutive long white bodies. Each should open within the previous body and the close should be near the high of the day.
This pattern with the high volume, with the momentum indicators all gaining strength says "more up to go"
Expect the .28 to .33 orange area to slow things down a bit and possibly create a bit of a pullback, but if all else remains the same, and it may take a few tries, but I expect that zone to be broken to the upside
Something wrong with Stockcharts site - can't post a chart - sorry
adrian-technically the "tailspin", as you call it, is over for now. IF a downtrend is re-established at some future point, it will be starting from a higher pps, as I think we have some "upspin" in our future.
And, yes, an out and out rejection would wreak havoc on the pps, but we all know that, so your proclamations are not really news to anybody here.
With spec stocks you pays your nickel and you takes your chances
Looking at the daily chart, the ODDS are in favor of a continuing upward movement.
I base that on the last two day's candles, and the breaching intra day of the 10 dma ( dotted red)
Mostly, though, the positive turn of the momentum indicators ( the six graphs above and below main chart) is what prompts my answer
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=4&dy=15&id=p23279901329&a=195071609
JAA106-excellent post -I pride myself on ( most of the time anyway!!!) trading by the charts and having a trading plan in place which I follow religiously ( most of the time anyway!!) thereby eliminating emotional trading.
However, as I read your post I had an emotional reaction ( as in -- I got angry) because you put eloquently and rationally into words what I have had a gut feeling ( there's another feeling word - oh my !!) about for the last 6 months or more as this dragged on and on. I realized that if that were the case ( GE or another in cahoots with FDA officials) then all my charts and trading ability would be fruitless. That I was powerless to fight that kind of money / power
The longer it dragged on, the more I realized I had better get out while I still had some skin left, and I did so.
We ( and this includes Dean and company) are pawns in the games that are played by the big guys. Only way to play is try to figure what they are up to and act accordingly.
Just because I am paranoid doesn't mean they are not out to get us.
Day Trader
If they started unloading at 500K at a time, it would show up rather quickly on the shorter term charts.
I have 5 charts on all my holdings and the shorter term - 1 minute, 10 min - charts would register quickly on the momentum ind.
I hold a lot of shares at .06, so I am not trading any at this point. Have made plenty on this so far.
Plan to hold these until buyout - when ever that is. As my risk is so low , I'm not in any hurry - the sooner the better though
Daily chart update................
Shorter term outlook than weekly chart posted previously
This looks much better re momentum indicators etc.
The 10 dma at .203 ( red dotted) is being challenged as I type
Next resist here is .25, combined with weekly resist at .24, makes for a strong resist. If it breaks that, then the orange zone will be a super resist. If that breaks on a closing basis (.33) then let the partying begin !!!!!
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=4&dy=15&id=p83206081153&a=195071609
Chart and comments...................
NOTE: This is a weekly chart, therefore, longer term outlook
"Funny" how the trading on Friday moved the pps up over that resist
to close at .16 - that, as I commented, opened up the possibility for further advance, with the .152 acting as support.
See, the thing about charts is that if there are insiders trading, ( which, IMO, is exactly what took place) it shows up. A chart doesn't care "why" something happened - just that it did.
So now we get the news , and the reason for the advance is known.
The next hurdle is .24, which is the 200 dma.
Momentum indicators need to be more positive before I anticipate a continued move up.
I certainly HOPE that is what happens, but I'm not convinced technically yet that this is nothing more than a short term move brought on by MM activity
http://stockcharts.com/h-sc/ui?s=IMGG&p=W&yr=2&mn=3&dy=0&id=p86508461106&a=207192102
Ass-u-ming anything can be dangerous, but I will stick my neck out and say a close .16 or greater ( whoops, it closed at .16)
would signal a reversal of the downward trend.
Would bear watching carefully, but definitely a positive indicator.
.152 then becomes support and .25 is next resist
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=5&dy=0&id=p56723579416&a=195071609
Chart update...............
Under these conditions the chart interpretation can be a bit iffy, but it looks like good news so far
PPS back inside the 2 lower Bollinger bands ( that's more normal)
If it somehow breaks thru .152 and closes above it - like maybe at .16 - that would be good indeed
It is quite oversold at present
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=4&dy=15&id=p34134724874&a=195071609
Until things "normalize" from the recent upheaval, my charts are useless.
They were good right up until the bad news became public. I started selling my shares on Sept 1st and sold all of them over the next few weeks, as the technical signals ( although not predicting the craziness) led me to believe that things were deteriorating without news from the FDA.
I will post charts and my interpretation of them when it is reasonable to do so......could be quite a while though.
Call me dense, but I just didn't get the purpose of posting those posts of kimble. I certainly don't disagree that they are ,in fact, factual.
I guess somebody with more smarts than I have can glean something from them.
Thanks for posting them, in any event
I know you are an intelligent person, so I can only deduce that this post of yours is a spoof.
spoof
n.
1. Nonsense; tomfoolery.
2. A hoax.
3. A gentle satirical imitation
I can also observe that in posting this response, that you did not answer my questions
And your conclusion from all these posts is .....?
And the purpose of posting these is ......?
There are a lot of Monday Morning Quarterbacks here, making all kinds of suggestions as to what Dean should do , or what he should not have done etc etc etc
I would guess none have ever been a CEO of a company listed on an exchange; have no idea what it is like to take the heat of shareholders, many of whom thought this would be their Golden Goose, when things go wrong.
OK, maybe some things could have been done differently. For instance, no one here HAD to invest in a speculative stock like this.
No one here HAD to hold on to their shares as it went down in price ( that's what stop losses are for)
And, yes, in the 20/20 vision of hindsight , Dean could have done some things better.
But give the guy a break, as you ( not you individually Martin, but the collective you) have no idea what it is like to be in his shoes.
sano-then suggest it to him !!!!
All he can do is say "no". Then you could ask him why the "no"
Better yet-who here is a CEO of a company listed on any stock exchange ?
One more thing to say that should be a "never forget" lesson from this whole fiasco:
Set stop losses and honor them. There would be far fewer investors hurt big time if they had followed this basic rule of investing
Most investment advisers , newsletters etc. recommend a 7-8% loss tolerance, then sell.
It may "backfire" once in a while, but overall you will come out way ahead.
Because they are jumping in and then jumping OUT !! It's called day trading and there is money to be made if you are slick enough.
Chart...........
Interesting - it went to .154 resistance ( previous support .152) and was turned away.
If it breaks thru that level today, then there is hope for it to remain viable
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=3&dy=0&id=p17604015383&a=195071609
Chart update..................
The technicals are out the window until things settle down.
I'll check in when a chart is reasonable to refer to.
Why the non emotional, technical approach works-eom
Mine-I wouldn't count on .30 just yet!!!
.24 support has been broken last 3 days intra-day.
If it holds , might have a chance to see .30, but that's not the way I see things now
"You don't lose money unless you sell"
What is a $10,000 investment placed on Jan 1st, 1010 worth today?
TRE and SLW are precious metal stocks.
Haven't lost money by not placing stops on IMGG and using that money to buy another stock ?
I like IMGG, trust Dean and think the machine is a great advance in medicine. I still hold about 100,000 shares for the sell off to the big boy.
But to leave money in a losing situation, which could have been cashed in with stop losses and placed with a winner IS losing money. It just is !!!
http://s944.photobucket.com/albums/ad282/madtig/?action=view¤t=CAPTURES5.gif
Why is it obvious ?
High volume(for IMGG anyway)on a down day can not be construed as a positive !!!
Look at the 2nd graph down. That says the On Balance Volume is negative, and falling away from the 20 day moving average.
That is not a positive finding by any means.
All momentum indicators are going down significantly.
That is not a positive finding by any means.
I'm quite sure .25 is a lost cause for at least the short term.
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=5&dy=0&id=p89598022385&a=195071609
The technical indicators are rapidly deteriorating.
I doubt HIGHLY the week will close at .25 or higher
bb-you can write .25 a thousand times ..........
I'm not convinced yet. Charts tell me odds are in favor of decline ( as long as no news)
As far as I can tell, no one ( and I mean NO ONE - if you get my drift ) has any idea what is going on there.
Box-my emails and phone calls get answered- I think the answer is a very practical one.
I have been invested with some big bucks for 4 years. I spent many hours on the phone over those years asking, what I would consider, tough questions. I got answers that satisfied me and allowed the officers to stay within the bounds that the SEC sets for them.
Now,at present, there are many more investors to deal with. And I am sure there are the usual amateurs and nut jobs included in the cross section ( Nobody here included, certainly)
Does it not seem rational that the officers would limit themselves ( there is only so much time in a day) to answering the serious and long time investors , with whom they have established a relationship, versus spending valuable time with the Johnney Come Latlies who have jumped on board in the last year or so, many of whom are not sophisticated investors?
If you think about it, I think the answer is obvious.
longrun-what chart are you seeing the BB pinches on?
What parameters are you using for the BB?
bb-now that IS nice trading.
I have to say, I am surprised it closed at .26
Glad to see you read my posts -- and you are right, sometimes I forget to take my own advice ! ---:o))
Weekly ( weakly?) chart.............
The next major support on this chart is .152
The support at .24 on the daily chart is backed up here as it is the 200 wma.
http://stockcharts.com/h-sc/ui?s=IMGG&p=W&yr=2&mn=3&dy=0&id=p55293884434&a=207192102
bigbreak-still waiting til end of day?Curious
Volume 1 million+ on a big down day - not a good sign
Chart...............
Momentum indicators have all gone (slightly) negative. With .28 support being broken, things are not looking very positive.
Every day without news will degrade the pps.
Next support is .24
http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=5&dy=0&id=p25427991462&a=195071609
Shaka - I sure thought so too. I sold at .26 this AM.
Big trouble ahead - but , then I could be wrong AGAIN!!!
mooch-I do give this one a longer leash than my usual stop, which is usually 7-8%. I am actually down only 7.34% from my puchase price.
I have been bumped out early, only to see it recover. But I agree, in this environment of "who knows what is going on", that is too loose......esp with the close of under .27 yesterday
I was quite sure the BB breakout was going to be up - probably going to be proved wrong, in which case this baby is heading South big time
ndforlife-I don't like the word "predictions", but I get your meaning.
I have already taken a position ( re -entry) at .285
Today's action has really surprised me.
I am hoping it's just an anomaly
If it drops below .25 on an intraday basis, I will be outta here