I'm not trying to establish who sets the price. The observation and the point I was trying to make is that the run up late yesterday on the TSX-V to $1.59 created a situation where the CDN market and the US market were "out of balance" so to speak related to the real foreign exchange rates.

For example if things stayed the same this morning with f/e at 1.26 (approximately) my cost to buy POETF in Canadian dollars would be $1.22 x 1.26 or approximately $1.54 CDN equivalent. Would you rather buy POETF with a CAD cost base of $1.54 or would you rather buy PTK with a cost base of $1.59

That's all I was trying to point out. The f/e equilibrium was out of wack and there would have to be a minor correction today to bring the two prices closer to the actual foreign exchange between the two currencies.