IMN, Inmet update

Then (June 7th) , and now charts;

IMN June 2011 imn aug 2011

A month ago it was pretty clear that IMN had pretty well completed a triangle and consequently the stock should fall. Not only did it look like one but it fit the bigger picture equally well.  Turns out that technically, if that is the word, this could not be a triangle as the e-leg cannot exceed the height of the c-leg. Whatever it is, it may simple be an input error by the vendor, it is a consolidation pattern and these are normally pauses in a move that is then continued in the same direction. In the meantime the stock is down some 18%.