In more recent times ISN has performed very well even on down periods for the Dow. When markets are looking a touch wobbly there are two groups of players.
Group A who are sitting on good profits & slowly see their profits disappearing. As the share price continues its fall, more and more people in this group get nervous which in turn generates more selling.
Group B (longer term investors) will sit on their quality stocks and will take the opportunity of weakness to increase their holding if finances permit or to initiate NEW positions in quality stocks that are having a major correction.
ISN is definitely one of the quality stocks for 2013 and will continue to surprise everyone over the next 6 months.
Group A were responsible for the large correction from the intraday high of 88 cents to its recent low of 58 cents.
Group B (& some daytraders) have now taken the stock from 58 to yesterday's intraday high of 76 cents closing at 70 cents.
The only thing that has confused me is where all this volume (over 2.2 million) is coming from especially after the large move from 64 to 72 on just over one million shares two days ago. You would have thought 2 million shares of buying would have taken the share price to 75+ !!
My only explanation is that there a few large buy orders around that were hoping to get filled in the 65 - 70 cents range over a one week period. The horse bolted thanks to their initial buying & our exuberant s/t traders. The boys have decided that it is in l/t interest of the stock to get these investors set at reasonable levels.
If I am correct we will see the share price move up from the 68-70 level to 75+ going into the AGM next Wednesday.
I am expecting a few SURPRISES over the AGM period (next Tues to Frid) that will be a game changer for ISN. Things will happen quicker in the U.S. than most people think.
I still stick by my previous target of over $3.00 for ISN.
We should see $1.50+ prior to Dec 31.
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