Innovation Pharmaceuticals Inc (IPIX)

[I Need Help]

Equilibrium seems to have been struck between positioning buyers and Aruda(lawyer) sellers. Early morning trade often favors the sellers, then buying kicks in and brings things back to slightly positive, then attrition throughout most of the day with a bit of selling at the close.

I'm thinking planned distribution of approximately 60-100K shares per day, often in blocks of 4K+. This has been going on for about 30 sessions. Could be 3M shares (of 8M possible) accounted for.

Good volume days could really accelerate the end of distribution.

I think some shorts have benefited from the extra supply and are attributing any slippage in PPS to all sorts of nefarious evils. As I see it, the buyers have a purpose to make profits, but are still position building and do not want to push price higher. The sellers probably are working on some timeline which is independent of fundamentals. Buyers would appear to be the smart money. It may take awhile for the PPS to get on a longer term, positive trend.

Could be some surprises yet to come. Most likely positive.

Like you, I am grossly overweight CTIX. I keep strengthening my position by buying when extreme oversold and selling a bit when extreme overbought. Pretty much been working from the 60 minute chart. I trade on the fringes and keep most of my shares under lock and key.