Imagination TV Inc. (IMTV)

[dmlabuda]

It's not at all relevant to me because regardless of how that news might affect the price of the stock, the chart is already indicating the direction the price will go in. There are always smart money investors who know in advance of the news what the impact of impending news will be and they position themselves in advance to take advantage of it. For instance, you might think that a reverse split would be a bullish thing. But, the market may have already discounted that news in recent price action so when the news actually is published, the price goes down and not up as you may have expected. The chart will usually indicate the correction direction of the price well in advance of the news. I know what to look for in the charts so reading the news might only serve to confuse me as to the true direction which the majority of smart money traders are already positioned for. I know from experience this is true. Apparently, this is a new concept for you but, if you pay attention to the news and how it truly seems to affect the price of a stock, you will see what I mean. That does however, require certain knowledge of technical analysis for you to really see the difference. Have you never heard the saying ... "buy the rumor and sell the news?". I was a little early calling the price correction in ICPA but, I was also a little anxious to move my ICPA money to another investment which I believed would go up faster and farther than ICPA and it did. I'm not in a position to buy back ICPA if and when the current price consolidation indicates to me whether or not the price will go back up or take another leg down to fill one or two of the gaps on the chart. Trading in ignorance of the news gives me an advantage because I can be totally objective when it comes to technical analysis in regard to where the price is going and since people perceive the news in different ways, I am rarely on the wrong side of a major move. The charts will (in most cases) reflect the direction that the price will take. The news rarely does. If you want proof of that take any stock over a two year period and plot all the news dates on that chart. Then sand back and take a real good look at the apparent affect of the news on the price.