WSF email this morning: A very important update,
We want to bring everyone up to speed on the current trading within IDNG so each and every member understands the massive opportunity presenting itself right now. These are the days that define us as a newsletter and have historically resulted in tremendous returns for our members. We are talking about a massive short squeeze about to be triggered.
This is the type of situation that has made our members millions on past profiles.
Let us explain quickly.
Today's action confirmed our belief that there is a massive short position in IDNG. As everyone is aware by now, Independence Energy Corp. (IDNG) released major news this morning of increased production on its Quinlan Lease Oil Property interests.
This development proved many "naysayers" wrong and added pressure to institutions who had been betting against IDNG's track record of successful and consistent development. With the 5:1 forward split only 2 days away, today's trading confirms these institutions want to cover before the split.
We knew this day was coming, although we were not exactly sure when it would happen, we knew it was inevitable. It is no coincidence that an attempt to instill panic in the market happened moments ago, only 2 days before the forward split.
What happened?
At about 10:20AM EST this morning, institutions who have been betting on the wrong side of the trend on IDNG (from as early as March), tried to bring down the price and trigger a panic. Their goal was to show weakness in the company but instead, they found a strong shareholder base and much more support than they ever anticipated. As they tried to push the company down, a major influx of buyers came into the market. These buyers bought up these artificially reduced shares, as they no doubt knew there was no substance to the panic. Within 30 minutes, IDNG was back in the green and is currently trading positive on the day.
What does this mean?
This means these institutions have tried to sell shares they do not own. They sold these shares at artificially low prices to try to spark a panic sell-off. Well, it didn't work. IDNG has already recovered to establish new highs and now these institutions are left with a massive short position, even bigger than before. They must now cover at higher prices and are no doubt feeling the pressure from their losses. A massive buy-in could be triggered at a moment's notice.
When will the cover begin?
These institutions just showed their hand today, demonstrating their desperation to cover and buy-back shares. It is our belief, and has been our belief all along, that they will not hold through the forward split. These institutions will most likely want to buy back their massive short positions before Friday as they do not wish to risk IDNG running even higher after the forward split. Based on our own due diligence conducted, technical analysis and past performance in these situations: we believe that once IDNG trades above $4.75, a massive buy-in could be triggered and IDNG could quickly trade well into the $5.00 - $6.00 range.
There is no doubt in our mind, these institutions are now scrambling to cover. We knew this was the case, we knew this was coming, and today has confirmed what we have been saying all along. They are desperate and need to cover. Members, could this be the catalyst that presses IDNG to OGA's $7.25 target?
Based on our due diligence, when IDNG breaks above $4.75, we could see the beginnings of a buy-in. A break of the $4.90 level could see an absolutely massive short-squeeze, potentially forcing millions of dollars to come flooding into the market.
Keep in mind, our estimates of $5.00 - $6.00 are based upon past patterns, historical trading, and projections from the current trend line in IDNG's chart. Historically, these projections have proved highly accurate in recognizing probable patterns in IDNG and as a result, we believe there is a strong probability IDNG can trade into the $5.00 - $6.00 range. For more information, please refer to our chart reviews from previous alerts. One thing is certain however, we are more excited than ever before for what is to come for IDNG.
The above statements are based upon our own due diligence conducted. We encourage members to use this as a starting point for further research into Independence Energy Corp. (IDNG) and to draw your own conclusions of where you think IDNG is headed.
For more information about short positions, visit OTCShortReport.com/IDNG.
A massive opportunity is building. Once IDNG breaks above $4.75, we could see a massive short squeeze into the $5.00 - $6.00 range.
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AI
