I hate to burst your bubble, but IOMG has been bucking the trend for a long period of time. Those of you who have been here for a while (1 month or more) recall this discussion. I advised short term traders to alternate between a stock which follows the market (at the time CYRX) and IOMG, since IOMG is known to go up in a down market and down in an up market most of the time. I don't know for how long this trend will continue, since IOMG rarely follows a trend for more than a month.
In addition, I doubt that the MM's will ever remove themselves from this stock. IOMG has simply made them too much money. They are able to continually draw people in due to the "fairy tale" status of this stock. They have done a terrific job hyping it, and then panicking investors on the rumor of the LS-120. When I heard about this, I promptly laughed, and then sank all of my money into IOMG. Doubling your money in less than 1Q is a fantastic feeling.
As for predictions, I feel that we will be hovering in the 20s for quite some time. The cyclical spikes will take us from 21 to 26-29, back down again. You can capitalize on this. However, there are too many better deals out there right now for me to invest in IOMG. Several stocks have been battered, and it's time to pick up the pieces.
BTW, I no longer reccommend CYRX. The 33% growth it experienced since my reccommendation here has stabalized the stock for the short term. (I bought at 15, and sold at 20). However, TCSI is now highly undervalued due to it's recent beating (75% loss, where only 40% is justified) and the fact that the company is very solid.
Happy Trading.... |
