Reasons to initiate ICOG (1/2 position)
1. Ascending triangle pattern with 0.80 breakout (false breakout on Friday may be a problem here, though)
2. Overall satelite-telecom momentum (TSTR huge move last week).
3. Rumors of TSTR - ICOG merger. I am not the industry expert, but generally speaking if two companies with no revenues merge, it helps to save some money + some "synergies" like increased attractiveness for potential investors. Interesting article here: http://www.spacenews.com/satellite_telecom/investor-dish-network-lambastes-former-icos.html
4. After ICOG voluntary banktrupcy in May, 09 I don't think it makes sense to go BK one more time within next 6-12 month, which gives us enough time to play with it
5. Settlement with Boeing will bring $600M to ICOG investors. Nobody knows when this happens, but current $0.78 vs. possible $3.00 is not bad risk/reward ratio
6. (Most important for a company with NO revenue) - they have TIME to speculate further about merger (#3), collect money from Boeing (#5) while doing whatever they are supposed to do - develop their cool satelite business
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