What IMGN is to us: a "futures"ish biotech firm that sports a majority institutional ownership
Climate: Lots of drugs in Phase I headed for Phase II. INTL partnership that hints at possible future acquisition. Decent recent earnings, but not really material.
Conspiracy theory + reverse engineering
So computers trade this stock a lot. There are algorithms looking at every possible combination of everything and making calls. Lots of them! Remember, institutional ownership.
Just look at the volume at close every day - there has always been a dump for the last week+...this thing is manipulated. But by math.
The tell is that these institutions hold large blocks of shares, and they trade them that way - which shows at least WHEN the computers are pulling the trigger on their p values.
We just have to reverse engineer that!
Why Elliott + Fib are the right tools here:
These are basic, yet intensely mathematical, patterns to track. Perfect tasks for a computer to apply to big chunks of money; gambling on something that doesn't exist yet.
Our goal is to understand 2 things at this moment: where is the floor, and when is it going to get there so we can be part of it. Elliott could show the floor, fib could tell us when. Even better if they agree. And they do!
Assumption: We're coming off an impulse wave, we're in a correction wave.
Pivotal question: How do we capitalize on this safely?
Short Answer:
Timing of large volume moves over the last wave
Proximity to key DMAs, and
Clear WXX pattern with straight line between W and X
Altogether, it's too perfect for computers not to love.
Volume is the tell:
The silver bullet comes at close today: while the volume bar is red, all of that volume comes on an UPWARD move in the last 10 minutes of trading today. 250k shares in the last 15 min of trading. This is the 2nd largest signal on the whole chart, and as a side note, it was crazy to watch the computers fight over the price in realtime - giant dojis bouncing everywhere!
A close below the Y correctional low ends the wave.
Without going into it much, the fib spans perfectly match the time-frames WHEN the computers should be expecting to test their wave models. And it's time to pull the trigger on one of those in the next 45 minutes.
The play:
Set tight stops at 10.28, just below the Y wave low. Wish you hadn't sold $11 calls for 5/18.
The aggressive can buy said $11 calls on the cheap at open! Good luck!
Climate: Lots of drugs in Phase I headed for Phase II. INTL partnership that hints at possible future acquisition. Decent recent earnings, but not really material.
Conspiracy theory + reverse engineering
So computers trade this stock a lot. There are algorithms looking at every possible combination of everything and making calls. Lots of them! Remember, institutional ownership.
Just look at the volume at close every day - there has always been a dump for the last week+...this thing is manipulated. But by math.
The tell is that these institutions hold large blocks of shares, and they trade them that way - which shows at least WHEN the computers are pulling the trigger on their p values.
We just have to reverse engineer that!
Why Elliott + Fib are the right tools here:
These are basic, yet intensely mathematical, patterns to track. Perfect tasks for a computer to apply to big chunks of money; gambling on something that doesn't exist yet.
Our goal is to understand 2 things at this moment: where is the floor, and when is it going to get there so we can be part of it. Elliott could show the floor, fib could tell us when. Even better if they agree. And they do!
Assumption: We're coming off an impulse wave, we're in a correction wave.
Pivotal question: How do we capitalize on this safely?
Short Answer:
Timing of large volume moves over the last wave
Proximity to key DMAs, and
Clear WXX pattern with straight line between W and X
Altogether, it's too perfect for computers not to love.
Volume is the tell:
- All large volume moves on last correctional wave came at the PASS or FAIL of a particular test/model the computers ran.
- The first question was whether there would be an extension of wave 5 of the impulse wave. This failed when the price dropped below the wave A low (first candle after B). Many of the computers dumped their shares here: the most significant tell we have on the chart. The volume timing is uncanny to the 1m.
- Next question is how far we will correct, or where is the support. The answer here lays in Wave W bouncing above impulse wave 4. I'm not positive how it worked, but I assume there were some higher risk models that started buying then in small blocks on a gamble which snowballed. Again, uncanny to the 3m.
- So now the robots think we are on next growth wave: some volatility here is expected, so they have their stops at that impulse wave 4 $10.20ish support. But they never hit.
- Now the triple wave calcs are kicking in. Over the last 3 days, we saw large "trader" type moves: Relatively large blocks trading in $0.20 increments or so - presumably different computers playing different games and IDing the opportunity to capitalize on the inability of the other robots to ID what the next "long" move needs to be.
The silver bullet comes at close today: while the volume bar is red, all of that volume comes on an UPWARD move in the last 10 minutes of trading today. 250k shares in the last 15 min of trading. This is the 2nd largest signal on the whole chart, and as a side note, it was crazy to watch the computers fight over the price in realtime - giant dojis bouncing everywhere!
A close below the Y correctional low ends the wave.
Without going into it much, the fib spans perfectly match the time-frames WHEN the computers should be expecting to test their wave models. And it's time to pull the trigger on one of those in the next 45 minutes.
The play:
Set tight stops at 10.28, just below the Y wave low. Wish you hadn't sold $11 calls for 5/18.
The aggressive can buy said $11 calls on the cheap at open! Good luck!