forgot to add that daiwa has a 6 month target price of 2710 yen for IIJ.
i've made comments like this in the past but i'll repeat it. brokerage firms here and elsewhere often downgrade a stock when they want to buy it's shares. i buy and will continue to buy on dips. give yourself 6 mo.'s or a year holding period and you'll be happy you bought.
your comment makes sense since the constant selling pattern of iiji is so repetitive as if it is programmed. an early gain is met with high volume selling which then tapers off and the stock regains positive momentum on normal or low volume. some times they commence a secon or third wave of selling that scares the hell out of most people and makes me very mad. i think that iiji float is small and therefore subject to easy manipulation. they have sold as much as 100,000 shares in less than a half hour to produce the down draft they require. the banks and insurance companies must be part of this pattern:i will observe the actionof the stock after the fiscal quater ends and expect normal buying patterns starting october 1st. which will allow them to accumulate new profits fore yearend. the banks took some big hits in the past and i think they sell their guts out to fill the holes with trading profits to save face. i expect this fiscal year to be a big sucess for iiji.