Exit IIN - look to re-enter on pullback

It may be fickle, but given my view is that the market is heading lower in the second half (and that the current softness is a precursor to this), I'm enacting the 'discretion is the better part of valour' strategy...so exited the IIN position today.

The rationale hasn't changed - it's a great company with growing earnings despite the economic environment - just that chances are that there will be better entry levels before too long.