Re: Reason For the Selling?
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Message: Reason For the Selling?
(Reposted from another board, credited to 'Foxyroller').
4/20/2011 4:23:03 PM | | 485 reads | Post #29604948
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This was a planned short attack on this stock that was coordinated and executed by many. They pushed it hard through $2 and then decided to take it down once it hit $3. And take it down they did.
Once they stopped bidding it up, the selling began in earnest with shareholders trying to hold onto their gains. However it was like trying to catch a falling knife with brief pauses along the way. Lots of stops taken out and market sell orders placed and filled. Literally dozens of paid bashers were unleashed on the stock boards to complete the dirty work.
Result? We did a full 50% + retracement in just a few trading sessions. Happened even faster than the last time they went after the stock driving it from .96 to .36 in February.
Once the coordinated selling began, the key accelerator was the completely purposeful and planned shorters' article post on seeking alpha with its false information and accusations - allegedly. Buyers disappeared because they needed time to digest this article. They also disappeared wanting to wait perhaps to buy back in once the dust had settled.
Then the panic selling began to accelerate with false ask walls being used by the attack squad to provide the illusion of mass selling. One begats the other and the selling did actually occur in a step-wise yet accelerated manner.
I hope for the sake of the remaining shareholders that an investigation is initiated by the regulatory authorities upon request by INT management and its shareholders (both current and past).
I also think David Lucatch and the INT management team must respond to the negative article - as mentioned above - and by many posters on this board today.
Otherwise, the attackers have won (for now) and the company's share price - if not its reputation and the reputation of some of its principals - could be at further risk as unfair as that might be.
IMO, an official news release responding to these falsehoods and allegations should be seriously considered.
Once they stopped bidding it up, the selling began in earnest with shareholders trying to hold onto their gains. However it was like trying to catch a falling knife with brief pauses along the way. Lots of stops taken out and market sell orders placed and filled. Literally dozens of paid bashers were unleashed on the stock boards to complete the dirty work.
Result? We did a full 50% + retracement in just a few trading sessions. Happened even faster than the last time they went after the stock driving it from .96 to .36 in February.
Once the coordinated selling began, the key accelerator was the completely purposeful and planned shorters' article post on seeking alpha with its false information and accusations - allegedly. Buyers disappeared because they needed time to digest this article. They also disappeared wanting to wait perhaps to buy back in once the dust had settled.
Then the panic selling began to accelerate with false ask walls being used by the attack squad to provide the illusion of mass selling. One begats the other and the selling did actually occur in a step-wise yet accelerated manner.
I hope for the sake of the remaining shareholders that an investigation is initiated by the regulatory authorities upon request by INT management and its shareholders (both current and past).
I also think David Lucatch and the INT management team must respond to the negative article - as mentioned above - and by many posters on this board today.
Otherwise, the attackers have won (for now) and the company's share price - if not its reputation and the reputation of some of its principals - could be at further risk as unfair as that might be.
IMO, an official news release responding to these falsehoods and allegations should be seriously considered.
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