Short to Long...IRM

Cryogenix said: "Last: 24.63 (high 25.06, low 24.20 - VOL 1,430,419) [url]http://finance.yahoo.com/q/bc?s=IRM&t=1y&l=on&z=m&q=l&c=[/url] I recommended this in the shoutbox as a good short play on February 21st, along with SPH (for my foolish critics out there, both are mentioned in the now-locked [url=http://www.superiorinvestor.net/showthread.php?t=6806&page=37]BUD[/url] thread), when it was around 33.50, and it's been dropping sharply ever since. Now I'd say it's time to cover since it's resting just above strong 2-year support and could start creating some chart structure for a reversal. Secondary support is around 18.50. Quite a spread. Since there's no bottom and no structure yet, you might want to wait to see which support level it finally comes to rest at. I think the primary level will work for this (potential) climb, and the secondary will be used later in the year, if things fall apart more."

Cryogenix said: "Previous: 25.01 Currently: 25.49 (high 25.58) It's already creating and nearly completed a Curly-Q of Death, so I can see this closing to around 26.50 before another decline happens. I'll give it one more session to hit 26.00, and then I'm out."