umc 2007 broker stats, page-29

This is not good, but as a long term holder I'm not that concerned ... main concern is that the info presented to the market is accurate and the co is actively adding value (which I believe they are).

Hogans, as a broker, has to accept customer orders. They may also feel it is difficult to advise a buy rec given the connections and the fact that, for whatever reason, they want to reduce their own positions.

I think the 'manipulation' argument is a little bogus. There is no evidence that Hogans, or any insider, is selling and buying back more cheaply - they are just selling at the best price they can get. Nothing wrong with that.

The price at the moment is weak b/c of technical damage I think ... the trading of 16/17 October probably brought new people into the stock who are now selling rallies and thoroughly fed up. Personally, I'm buying.