IDM Pharma, Inc. (IDMI)

[bowonwing]

DMI @ $1.87, 11/24/08; S-$1.74; R-3.63 (9/2/08).

The trend of IDM has continued even after the recommendation for approval in Europe last week on November 17, 2008 for L-MTP-PE.

The trend continues until it is countermanded by a reversal structure.

So far, we have had no reversal signal, which would be evidenced by a break-out over $3.63. IDMI continues to trade in bear territory, with selling pressure still high. Buying Power Index remains minimal, even with todays gain, there was no volume.

Based on all the above, it's obvious that the wait for the actual approval in February or March 2009 is too long away.

Also, at this time, deflation is here now, with cash king. So a three to four month wait for approval is too long for buyers to step up to IDM.