Thoughts for the day on IMOT...
Item 1: I posted last night about trying to get shares for $4. Later, I got to thinking about how a gap up of only 50-cents would be pathetic and, given yesterday's close, probably unrealistic. As a result, I placed my order this morning for 500 IMOT @ $5.00 limit. The Ameritrade broker must have thought I was a dummy, an unsavvy rookie, or both!, as he explained to me that the pre-open indication for IMOT was 3.37 x 3.50. So I was asked, 'Do you want to change your order?' I considered it, but didn't end up putting much value in those pre-market numbers. I told him no (apparently, I'm quite determined to get 500 more shares).
Item 2: I got to thinking last night about this Yahoo-of-China simile and the "Ebay-like" reference that was made of the stock, the internet portal business in general and the IMOT float of effectively only 600K. All of this was going through my mind and I got to thinking, "Could I be in some sort of SKYM situation?" Last December, SKYM was the hot stock with a low float and it went from $3 to $12 in one day. Up 400% is not too shabby, right? Time to take a breather, right? Well, the next day it went from $12 to over $40! I understand that a short squeeze helped out a lot with that movement, and I don't hear anybody talking about a squeeze with IMOT. Still, a 600K float and an Internet portal company! Wow, my imagination is running.
Item 3: Why do I get the creeping suspicion that IMOT is still largely undiscovered?
Out for now--Good luck all,
Chris |
