What is up with this stock? I'm giving it one more day (since it has a habit of rallying a day after a rally) and then I'm out of here. I just can't see it sitting here--like a piece of phlegm that's just been coughed up and spit on the floor by a sickly looking 90-year-old with no teeth, no hair, and a bad cold--and then rallying the second earnings are announced. Everyone knows IOM is having a great quarter, this has to be priced in, so why isn't the price moving. The market must be looking at something, and whatever it is, it isn't good. This type of stock movement almost always portends some nasty news, and although we all don't think it could ever happen to IOM, I think something is up. I'll admit it, I'm frustrated, but not as frustrated as I would be if I stayed in the stock against my better judgment and then watched it sink to $8 on some bad news. Don't think it wouldn't happen, one scrap of credible news about Zip inventories going up or Zip sales slowing, and this stock will be lucky to stay above $8. Remember, the street has apparently discounted Click! and still views IOM as a one-trick pony, which is something we should all keep in mind.
One more day, and I'm 100% out until I figure out what's up. |
