Yes, I like IMAX. I really like it. Frickin' film industry kicked tail through the recession, especially on IMAX screens. Even after prices jacked up to $19 for 3D. It only gets better...A couple of weeks ago, my game plan was to keep trading other stocks like C and F until the week before Iron Man 2 is released. Then hop on the IMAX wagon for a nice ride up. Instead, IMAX announced theater deals in Japan and China and the stock exploded over 20. I started a position on Wednesday, failing to enter below 20, but scaling in at 20.15 and 20.40. Today's pullback? I missed the chance to sell in premarket, before the earnings report (2:30 am Hawaii time), after sleeping through my alarm.
I'm not letting go of my shares below 20, though. Not with IM2 and a promising slate of flicks out on the giant screen this summer.
IMAX 19.72 -0.58 -2.86%, low 18.50
> Pro: Dominant leader in 3D
> Pro: Expanding in Japan, China
> Pro: Iron Man 2 out May 7
> Pro: Dominant leader in 3D
> Pro: Expanding in Japan, China
> Pro: Iron Man 2 out May 7
> Pro: Low float (51 mil)
> Con: Run-up has been huge, even with the pullback
> Summary: Long term, very good prospects, but price action always volatile. Likely to hit 23-24 soon.
> Con: Run-up has been huge, even with the pullback
> Summary: Long term, very good prospects, but price action always volatile. Likely to hit 23-24 soon.
> Chart analysis: Sell Confirmed (today) American Bulls
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