Music in the background...
"What a difference a day makes"
I couldn't resist, seeing all the pessimistic posts on all of the boards I frequent, including Prodigy, AOL, and this board. Please everyone, DON'T get carried away on the optimism, since there is a LOT of overhead supply (investors who got in above the current price) who don't care about IOMG, and think to themselves "if it only gets to 31, 34, 37, 45, etc..., I will sell and break even". These investors will greatly slow the rise of the stock, although rise it will. Just look at what happened prior to EVERY earnings report. A drop of at least 35% and in September 1995, 45%. So this is a natural phenomenon, exarcerbated by the drop in the NASDAQ and panic selling. I think that 33-35 will be the price before the earnings announcement, and 40-42 will be the price the moment after. The key things today were twofold: 1-the HEAVY volume (twice average) on the bounceback, noticeably nonpresent on the other rallies (from 37, from 27) and 2-the fact that the close today was higher than the opening yesterday, which has not occured on the previous rallies. Good luck to everyone, and remember Microsoft, which everyone in the media predicted would get bashed by IBM, etc.... just like everyone in the media predicts that IOMG will get bashed by bigger competitors as well. We'll see |
