I spoke to Fred Davidson a few minutes ago, and he affirmed that there is no bad news lurking behind the scenes to generate any of this selling. He believes that at least one institution is caught offside on other investments and is selling IPT to raise cash. This is a market where there is no shortage of people motivated to sell for a variety of reasons, but there are plenty of reasons that are scaring people from stepping up to buy.

I also complained that IPT has not been aggressive enough to distribute information, and Fred says that the company will be issuing a more regular stream of NRs in the months ahead to try and keep investors up to date. So far this year even good news has just generated more selling, but in the long run if it is necessary to clean up the float and turnover the weaker shareholders, then good news will help to accomplish the process faster.

cheers!

mike

PS: IPT is one of my biggest holdings and the company runs a paid advertisement on my website.