cr, page-12

Blue, it's all part of this game but let's not pretend the action over the last week or so was simply the honest movements of a free market.

It's beneficial for everyone concerned to raise capital at a higher price, this is the "good" side of manipulation where holders and management benefit alike. But let's not pretend that buyers suddenly rushed in for two days as they magically saw the value of buying IOH and just as quickly stopped buying when the value somehow disappeared.

By the way, it's extremely coincidental that the share market gods acted on the $2+ share price to bring her back... Just a few pips below the $1.925 which (coincidentally) happens to be the critical price point for about 3 million options to be granted to management at a GM next week.

Suddenly the coincidences are stacking up.

Also let's not ignore the dark side of manipulation that sucked the share price down from $2.40 in Januray to $1.60 in March (Nothing to do with Japan by the way I'm talking pre tsunami) on the back of algorythmic trading. Hey presto three new names in the top 20 JP Morgan, Merrill Lynch & Sheerwater. Coincidence?

This stock is one of the most blatantly manipulated I've been involved with. It doesn't change the fact that there are good fundamentals in place and we have a strong management team - I'm certainly not going to sell as I think the manipulation has been occuring for a reason (position taking prior to the end run) which will hopefully benefit me in the long run.