Was today a bottom? Yes it was for today. Tomorrow? Who Knows! But i do think the price is right to buy, so I did. If the sky falls down we all will have a blue head. So chances are low the sky will fall down, IMOS has proven to be correct on their guidance. USD 2.2-2.4 annual earnings is ok for me Buy!! But as stated before, the moment this stock reaches 20-24 USd range I will sell 80% and let the remaining part for what it is. (as stated before). QE will take stock- gold/silver markets much higher!
Apple, spy, the dow 30, and the nasdaq 100 all made bottoms intra-day today and then closed higher than their opening prices thus confirming the bottom. The iwm did not, but imos greatly outperformed it forming a bullish hammer, rather than a doji. Assuming tomorrow imos's stock forms an ascending candle (as I am sure it will be with the durable goods, housing, and gdp reports expected to be positive), imos will have formed a morning star-like bullish reversal pattern. Today's price behavior was very much like that on July 23rd, the day of the last major bottom. The bad news is in, the buyer's strike finished, and imos is going to break 12.00 by Wednesday's close. Oh, and Pere, I am selling between 16.10 and 18 and a lot of folks are going to sell at much lower prices so you are going to have to wait at least several months for imos to hit 20 probably.
Taking some off the table with a profit is never a bad action. Sold earlier in the year some 50% at aprox 19 and have added in the meantime more than sold. I have been around for quite some time here and have time to wait. A couple of month's is nothing in my investing world.And happy to wait for that double that will surely come from these levels (unless an unexpected move by management of the company!). cherio