Indo Global Exchange(s) Pte Ltd (OTCMKTS:IGEX) Volume Surges Further

Indo Global Exchange(s) PteLtd (OTCMKTS:IGEX) fueled by a $3 million pump campaign, continued its ascent with a new volume high yesterday.

IGEX closed up another 2.6% at $0.79 per share. The volume reached 614 thousand shares.

The surge may have something to do with the press release issued by the company yesterday morning. IGEX announced the appointment of Mr. Dermot Michael Monaghan to the company’s Board of Directors.

While there’s no way to know whether the appointment will have any real positive consequences for the business of the company, with pump jobs the hype often matters more than facts. The fact that there is no current information about the financial state of the company will be overlooked by a lot of traders and novice investors.

Another recent pump job conducted in a very similar manner, Alkaline Water Company, Inc. (OTCBB:WTER) has crashed in the last two sessions. It’s a very good example of how fast pumps of this type can destroy investors’ money. It has dropped about 60% in just two days.

Winning Media, an entity which is involved in the current IGEX pump campaign, appears as a paying third party in the promotional efforts on WTER too.

There’s no telling how much longer IGEX could survive, or how high it can go. It appears to be at an earlier stage than WTER, as we haven’t received emails from smaller pump newsletters, but it’s just a ticking time bomb, and when it goes off you don’t want to be one of those who get burnt.