Herb,
In most cases breaking a support line does indeed make it a resistance line. But, IMO, since this appears to be a manipulated move, by one or two professional short sellers, or a competitor, or a combination of short seller and competitor, that spiked the price, the upside resistance might not be as strong as normally expected. Now that opinion is tempered with the thought that IOM cannot flow upstream in a flood. If the tech market gets caught up in another round of 'bad news' rumors that turns on all the sell programs, IOM will do well to hold in this trading range.
Mike, expect more 'bad' news releases.
It appears to me that the lap-dog of the professional IOM short sellers, Herb G, has been given new orders to take every opportunity to re-hash his vitriol against IOM.
Unfortunately, that will prompt more pontifications from certain people, in the main IOM thread, who stop in to state that they possess the only pure insight and everyone else who may think differently is suffering delusions. It is sort of like those wacked out evangelicals who stand on the street corners, down here in the south, and shout at anyone who passes by on the street. They possess the true insight and everyone else is going to hell. Makes you laugh, but a little sadly.
JMHO,
Ben A.
ez-pnf.com |
