I still believe that with many floats, people buy on hype and not on solid TA.. and they hope to ride that hype (just look at Reffind!) ... And some of these stocks plummet once the first lot of financials come out and people really wonder whether the business case is viable. I still struggle to see how RFN, UPD, NOR, ZIP are going to be viable in the short term (say 2 - 3 years). It seems the more they spend chasing customers, the more they seem to go negative each quarter.
