Keeps the shorts away..
We thought we have a look at the chart of InterOil (IOC) and we have to admit we did that with quite some trepidation, as we expected it to be quite overheated by now. But that’s actually not the case. It does show what we have been saying for months, these shares are under serious accumulation.
This really is a beautiful chart. Speaking of an up trend… With a little tailwind news wise, we could attack the all-time high reasonably soon.
As to the ‘short attack’ that we wrote about, we are no longer worried. These people are targeting (even threatening) us, rather than InterOil (we’ll spare you the rather ugly details), which is an excellent indication that we hit a raw nerve and that they don’t have much (if anything) else on InterOil to play with.
Also, we have to say we were distincly unimpressed by their due dilligence on the company, and the rigging of the Yahoo message board system (a rather labour intensive job, we assume) had ‘desperation’ written all over it. The share price of InterOil is not decided on the Yahoo board, and certainly not by people whose research leaves quite a bit to be desired, to put it mildly.
Andy Left tried all this three years ago, when InterOil hadn’t really made any significant discovery and was financially a lot less sound compared to today, and that dented the price temporarily, at best. And in comparison, Andy Left does seems quite a bit more competent (if one overlooks his rather questionable morals).