Joseph,
It sure takes guts to invest in IOMG at 45, like I did yesterday.
My position is now relatively big. I had no idea they would declare
a 3 for 1 stock split today. I think this was a mistake on the part
of the management. They should have let the hype push the stock to
whereever until earnings come. A sell-off before or on that date is
best prevented by declaring a split! This is how you do it!
Also, I think 3-1 is a large stock split for a company that traded
at 2 7/8 las year this time! No need for fireworks on this front,
but it is too late now. CUBE did much better, declaring 2-1 split.
Anyway, I don't imagine they want the new number of shares to trade
in the teens, so the message sounds to me like: "We know IOMG will
trade in the 60's in Jan., so a 3-1 split will bring us above 20."
I believe IOMG will be above 62 come New Year. This is some major
action here and I am not missing a bit.
Looking sadly at my portfolio today, IOMG is the one of two stock that
inched up. Maybe I will consider getting out of something, to stick
with IOMG longer. The remains of my NSCP and DNA hype holdings are
most likely candidates for the ax.
As for our favorite CATS, volume picked up today, but it did not give
up much, which I am glad to see. Still, my advice is to wait until
we breaks through 8, and then buy more, or trade or whatever you do! |
