It seem like a lot of you longs still don't know how to play the internet stocks. INKT was 21.85 on Monday, 12/4/00. It doubled in 5 days on no reason other than a little news and short covering. These MMs will now start selling and leave you holding the bag. INKT should finish this week in the low 20's.
INKT is good, but when a stock doubles in 4 days, it is the MMs.
Remember that INKT went from 45.00 to 22.00 in a matter of days.
INKT has broken above its 20 period moving average on its daily chart for the first time since this downtrend started in Sept. It pulled back from the MA before breaking through and then went right through it. The next logical stopping point is in the low 50's where the 200 MA is. If it sees resistance there then I'd expect it to come back down quickly.