Although all us ISN shareholders have had quite a depressing few months, it appears to me that the last couple of weeks of consolidation is near completion.
The market has had to cope with Mike Thomas' exit & sale of his 4 million shares which is now complete. Stewart Washer & wife were holding about 1.5 million shares before stepping down as Chairman. Although he most likely is also a seller I do not expect such a line to depress the stock for much longer.
Over the last two days the volume has been in excess of 2 million shares. The first positive sign is that the stock has closed above 34 cents for two consecutive days. If you watch the screen closely you would notice that there is open ended buying around. Why take out the sellers at the 36-37 level if they are still picking up plenty of stock at these levels. As SOON as the selling starts drying up at these levels we will see the stock start motoring back into the 40s.
ISN Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
