Thursday, September 01, 2011 6:12:10 PM
neither do I..this is the way I see it :
we got pumped by july newsletters - that created an 'artificial demand' for the stock. Artificial because the buying did not come from measured moves by investors but instead its was buying by 'headline readers'. Because of this, IWEB's consolidation period was interrupted (consolidation that was supposed to continue back from March merger announcement during which a big chunk of volume also came from headline traders)...
in August, imo, our consolidation continued. At eom volume dropped even more from what looked like to be already a low volume consolidation set up for a bigger move. Drop in volume imo showed that float is tightly held, shares to short are harder and harder to find, and buying would soon outweigh selling. It seems that the only way now to open a large position is to buy off the ask or be left chasing later...vol dropped on the bid is measly
With the short sales report it becomes obvious why we got all the way down to almost .16, short interest was high though out August
we've tested .16-.17 level on practically no volume and moved up to .18-.21 but again on very low volume. for a sustained bounce, we need to see a considerable rise in volume this month
Of course, It would be nice to see the company pr "millions of $ in contracts" instead of hardware upgrades, but if we check history, the rally from .08 to .47 had very similar PRs to the ones we see now, which are ordinary for the company.
Weekly chart is still looking bullish as is the daily,
RMI&RSI are bullish, rsi staying above 50
SMA's are bullish, and are all sitting at .21-.22, acting as main resistance for now
Accumulation is through the roof as many investors took advantage of a great opportunity in the teens
Thinking back to that rally 2 yrs ago, it is trading awfully similar now as it was back then, those loud ones complaining about no volume, prs, and mngmnt just have no experience with the way this security trades.
expecting a pull up in pps soon, consolidation is almost done forming a new bottom - all IMHO
daily
weekly
weekly
we got pumped by july newsletters - that created an 'artificial demand' for the stock. Artificial because the buying did not come from measured moves by investors but instead its was buying by 'headline readers'. Because of this, IWEB's consolidation period was interrupted (consolidation that was supposed to continue back from March merger announcement during which a big chunk of volume also came from headline traders)...
in August, imo, our consolidation continued. At eom volume dropped even more from what looked like to be already a low volume consolidation set up for a bigger move. Drop in volume imo showed that float is tightly held, shares to short are harder and harder to find, and buying would soon outweigh selling. It seems that the only way now to open a large position is to buy off the ask or be left chasing later...vol dropped on the bid is measly
With the short sales report it becomes obvious why we got all the way down to almost .16, short interest was high though out August
we've tested .16-.17 level on practically no volume and moved up to .18-.21 but again on very low volume. for a sustained bounce, we need to see a considerable rise in volume this month
Of course, It would be nice to see the company pr "millions of $ in contracts" instead of hardware upgrades, but if we check history, the rally from .08 to .47 had very similar PRs to the ones we see now, which are ordinary for the company.
Weekly chart is still looking bullish as is the daily,
RMI&RSI are bullish, rsi staying above 50
SMA's are bullish, and are all sitting at .21-.22, acting as main resistance for now
Accumulation is through the roof as many investors took advantage of a great opportunity in the teens
Thinking back to that rally 2 yrs ago, it is trading awfully similar now as it was back then, those loud ones complaining about no volume, prs, and mngmnt just have no experience with the way this security trades.
expecting a pull up in pps soon, consolidation is almost done forming a new bottom - all IMHO
daily
weekly
weekly
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