IMN, Inmet

imn 2011 2  imn 2011

Now that , predictable , the deal with Lundin is dead, the stock has a good chance of rallying roughly $6. It came down in a clear 5 wave sequence, right to the low point of a previous 4th wave triangle and has completed a-b with a c still to come . That is the minimum expectation. It could possible go higher if the very large B-wave from the lows was not yet complete. Do not believe that it was not but who knows for sure. Use a stop at yesterdays close.