IMGN should find some support around this level unless market tanks. I looked back at the trading pattern, most of the damage occurs within 2-4 days of the peak, followed by a period of consolidation, then a strong rebound. IMGN could go to the low $16's worst case IMO if the market tanks. If it holds here for awhile, look for a short period of consolidation before a big move up. For long traders I think it's getting close, but might need to be patient a little longer.
Longs should write to IMGN and the BOD and let them know they want Dan out. What does he do other than sell shares and talk at meetings. The press release looked great, but as soon as he started talking and analysts asked questions, IMGN turns into Tankogen thanks to Junius. His credibility is shot, they can't move their programs along past phase I without a partner, he really needs to go!!!
Every freaking time we go through an earnings/conference call, and the ceo sells the day before, there is a 4 day extended drop. I feel like I should have learned the first three times, but I guess I'm paying the price for being a noob investor.