Innovation Pharmaceuticals Inc (IPIX)

[BioHedge]

Really interesting price movement today. I got the following from a friend at a large house:

"It looks like there was a concerted effort to cram down our favorite little biotech this morning at the open. In looking at the trade sequence, one of my guys noticed decent sized blocks of sell orders. With the low float this per/trade volume indicative of someone trying to shake out loosely held shares.

It seemed to have worked as many of the smaller sell orders following the blocks were being triggered by the drop. When the price hit the day lows almost 250k shares were picked up within a few trades. It seems small timers got nervous/or were trying to play the price action on the short side. They got screwed when the rolling buys started arriving.

The rest of the day was pretty uneventful except the close when the sellers dried up. It seems most money wants to be long going into the close. A good day all around.

I'm looking forward when we can put more money to work, it's just slightly outside our heuristic models at present. All we need a bit more data on the drug and continued progress.

Also, bring some sunshine home, it cold and sh*ty here :)"

I think like most of you saw, this is just some gaming being done by "smart or semi-smart money". Stay strong on the long side, like what happened today, it's tough to correctly time a stock unless you're the one making it move.