I think the SP is being held up in the air by some "educated" buying. The vol this past three weeks is double that of the many weeks before. I think as soon as the SPP finishes, IOF will fall, as the supportive buyers will pull out. I've got a buy order at under 40 cents.
I may be wrong, and it may be the other way around - however the short report does not show that much shorting happened yesterday.
Stuff the SPP. I hold nearly an unmarketable parcel.
My opinion may change, but any last minute surge in SP on high vol will just make me more suspicious.
IOF Price at posting:
$1.80 Sentiment: None Disclosure: Held
