In my original PennyStocking DVD, I cover a chart pattern I call “The Crow”…
…beause it gradually picks away at your carcass of an account.
Well, good ole IDAE–which I bought twice, profiting once, breaking even the second time (a totally probable fraud)–is dead smack in the middle of one of these death spirals:
What’s going on here is that the promoters don’t feel like spending any more $ promoting this thing, people who were promised shares are selling as they become unrestricted and their joke of a “revolutionary social gifting” application has been discovered to suck.
In short, I’d say there’s a very high probability this thing will be under a dime/quarter/share in the coming months and years, interrupted only by the occasional pump and fluffy press release. If I had patience, I’d try every day to find shares to short…
Welcome to the cold hard reality of penny stocks, they all stink…you can hide it for a while, but eventually it overwhelms everyone…and every stock price.
Posted in Breakdowns, Manipulation