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Post# of 396422
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XenaLives

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Re: babycakes post# 126688

Monday, 09/06/2004 10:07:31 AM

Monday, September 06, 2004 10:07:31 AM

Post# of 396422
NO WAY would I short IMM.

Per your own chart there is a bullish divergence on both MACD and RSI.

I have been trading this one to the long side and it is heavily manipulated. When it reverses there is no chance for shorts to cover without a loss.

If you know the fundamentals, the thing could launch on news.

I don't often post charts on IMM so I'm going to be lazy and just post a link to the weekly:


http://custom.marketwatch.com/custom/ameritrade2/html-intchart-rt.asp?osymb=fxgp&symb=imm&ti...

You will see it has a history of very rapid rises and is due for LT reversal.

I am planning to buy on the dip Monday, am currently out.

This is a worthwhile LT hold.

Hope I've saved someone some money :)


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