Unless upside volume is a daily several million or so to flush out profit-takers, the stock could spike, but it'll be short-lived, I think. Most of the time I prefer to see solid consolidation for a while after a move up. That allows the next leg up to have more credibility for potential new buyers. Of course, whatever event anyone roots for isn't going to make it happen, but whether the stock retreats to the low 7's or sticks at 8 or so, the higher price that it's going to be in June will not be affected by today's action.
In any case, here's a post I made on another board where IATV is popular with momentum traders:
"This board is going to be littered with traders who sell this too soon, as so many aspects of the story are yet to unfold. (Of course, there'll be folks who buy back later.)
"Coming up on 3/5 is a digital and pay TV conference with the CEO of Liberty Interactive (an IATV partner) as the keynote speaker. And there are lots of other things in the works that'll excite future buyers as TV interactivity and connectivity become buzz words and an increasing number of reporters write an increasing number of stories. What's nice is that the stock is moving smartly without news releases, which, over the next months, will begin
to be cranked out. TV interactivity is the next step for internet excitement and has the potential, down the road, to generate an internet-like wave of manic buying in stocks like ACTV." |
