Pennies on Fire

INSN.OB – On the move again ?

By Frederick Ramsburg · August 18, 2005 · 1 min read · 457 views

I’ve made several trades on this micro penny during the last months… This is a very technical penny, and buying near the support has proven to be a good strategy…
This time I’ll give another shot, but for the «3 Pennies On Fire» Portfolio.

Profile:
Website: http://www.insynq.com/
Insynq, Inc. provides outsourced software application hosting and managed IT services. It offers server-based computing access and services to customers through its IQ Data Utility Service. The IQ Data Utility Service receives and transmits information in the form of images rather than data, requiring less bandwidth than traditional network configurations.

Overview:
This is a micro cap, with 250k of market cap and only 107M shares outstanding. This kind of stock usually moves very fast, especially on news… I’m buying this stock on a positive technical reaction on the support.

Trading Plan:
The risk / reward ratio is attractive, because I’m using the ascending support line as a stop level (on close). My primary target will be the $0.0045 price level, but if the trade goes really well I may consider a higher target.

Bought INSN.OB @ $0.0028 for the «3 Pennies On Fire» Portfolio.

Best regards,

Frederick Ramsburg
www.3stocksonfire.org

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INSN.OB – On the move again ?

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