Ann: Response to ASX Price Query, page-10

Moosey, seems to me that the possible reasons for today's price and volume action could be:

1) leaky ship

2) day traders 

3) longer term holders wanting to get set before the award is announced

And it could be any combination of the above. 

I don't think option 1 fits the facts very well, it could only be the case if the payout was small (otherwise why not keep buying everything up until you no longer make a profit on it) and why stop buying (early morning trades were settled at 3.3 but then dropped back to 2.8 which doesn't make sense if you know what the payout is but makes a lot more sense if it is traders and they have an eye on the US pre-market data which turned south during our session).

So, I think most likely a combination of 2 & 3 but not sure of split between those options.  I thought the Chi-X volume would be non retail (but don't know that for a fact - just impression I got from other posts on HC).

If you have held POH for some time, then I understand how hard that decision to buy in at 1.6 would have been.  I also have been a shareholder in POH for a long time (coming up to 14 years) so there have been a lot of disappointments along the way.  Notwithstanding that, I have been buying more recently between Nov last year and a couple of days ago at an average of close to 2c.  While there are no guarantees in life, it does look like the current management are competent and maybe POH has turned a corner.  If the case is successful and POH are awarded pretty much anything 

(US $30M would be a game changer for POH) then it will be worth it. Lets hope we are both on the right side of things this time (I have no way of knowing - it just seems like a reasonable risk - reward scenario at present).