INMG oversold? i don't think so. the key element to any chart rendering is volume. without the proper volume, its not hard to get whiplashed trading. in any case, even the rsi6, a faster sentiment indicator than that of the rsi14, has yet to drop below 30. the more likely explanation is that this was overbought.
okay... i know its against the newer principles of reality, but lets look at some facts. on the initial 2 day run in April that took INMG from .0016 to .0104, there was a little over 160M shares traded. as of the close of today, NOT ONE of those shares is in the red. to put that into perspective, this stock has traded just a tad more than 400M over the last three and a half months, and more to the point, in the last 20 days, which coincides with the run from .0122 to .0439 to todays low of .0111, the daily average is 7.25M. that, readers, tells a better story, one that is fact based, than does the one's screeching of either obsequious dilution or manipulating daytraders.
dilution, btw, does not necessarily have to be equated with the issuance of new shares. it is more often than not a simple case of the growing availability of shares inside a trading range. let me be clear here, there is NO such thing as a float lockdown. what happens in those cases is that the range gets bleached out and the liquidity disappears.
as for what the chart, trading logs, and L2 currently say regarding INMG, i would think its become rather obvious that the buying power is no longer as strong as that of the selling. we could discuss why that is, but the idea that new shares coming in to the market, isn't well represented through either the chart or the trading. are there new shares leaking in? probably. but so what? the daily volume isn't enough for it to be the sole cause of this retracement.
and that's as much as i want to say about INMG. unless otherwise requested, i'm done charting it. if i mention it at all, it will be in reference to a learned lesson in trading. i consider myself smart enough to know i know very little when summing up the potential for accruing knowledge. and i know better than to trade on soundbytes, slogans and old wives tales. i guess that makes me one of the less educated posters on the Hub, where erudite is condensing a post into one word, be it buy or sell.
that said, i may have to do some lampooning of that board. hard to believe but its a caricature of a caricature, and is too funny to take seriously.
