NoChance2Win, I did watch level 2 very closely on IGTN yesterday. I don't worry about the sellings from NITE/SCHB, I know who uses NITE/SCHB, they were the same retail guys bought for the past two days and bailed after the price dropped. I am more concerned about SACM and DOMS. SACM and DOMS are the killers of this stock. The good news is, SACM and DOMS never dropped their ask below 0.0085, most sells came from NITE/SCHB. We shall see where SACM/DOMS move, if both guys won't drop the ask below yesterday's close, the stock shall make a bounce and see green.
On the other hand, we need to take a close look at the company, a stock drops from 0.30s to subpennies usually caused by the lack of public interest and dilution.
Since IGTN is trading on pinks and no SEC filings, same as any other pinksheet stocks, we have to take what they said with reasonable doubts. The CEO said small OS and float, but the trading activities indicate otherwise. They claimed in their PRs that the company is debt free, has net income, growth is in triple digits, and retiring shares etc, these are very positive aspects of any stocks. Until the company moves to OTC BB and signed what they said to SEC, we need to trade it with caution flags. The fluff PR this morning is also one of the causes of the selloff today.
All being said, I think we need to find the proof of guility, stock price alone is not a good indicator since pink stocks are so manipulative, they could go up 100% and go down 50% in a day or two. Also there are naked shorting going on, this stock has been on regulation SHO list for over a month, sort of like CYOS. CYOS acted like a dog for months or weeks, until it had a huge volume last week, shorts started to get squeezed and went from subpennies to over 0.07.
I was too busy today, I didn't get a chance to fax their transfer agent to confirm the AS and OS figures, I will try it today.
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