Read what you just wrote - if you take the 10 biggest losers, IOU was 3rd. If you look at their market caps, they were all significantly lower than IOU. It takes quite a bit of selling to push this lower than a stock with a 12 million market cap that does 2 million volume.
I was involved in the sell wall discussions and its purely short term analysis. It would say the exact same thing if you were to look at a few of the oscillators. People slapping up 2 mill sell walls at current price directly affects those oscillators and momentum. It is clear there is no support between 10c and 9c. If 10c goes, then its a free fall to 9c. These discussions are utterly valid. Chart trends are constantly changing, and there was no way for them to predict that people would be slapping their 1.5c shares for sale at these prices. There was no uptrend today, you literally have to take a look and see for yourself that people have been putting millions for shares for sale between 10c and 11.5c, with a million every pip above that. When you have all that stacked sell pressure relative to the price range, with the sell walls constantly being reloaded, you have to wonder if 5 million shares buying at 10c will hold - especially when tens of millions of shares are changing hands in one day.
The people talking about it weren't even saying not to buy, but that it could go even lower and be a better buy then, in which it actually did to 10.5 cents. So I think the comments we made were very valid. I'm still buying but will be aggressively buying under 10 cents - should it happen.
IOU Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
(20min delay)