hold on. don't panic

I tend not to write on this forum unless I have something decent to say, and right now, I do.

1) There is a lot of talk about ONE seller dumping stock on ETC. I doubt that is the case. Have a look at the following list of brokers who have acted on the sell side.

Main brokers selling:

17/07 Commsec & Westpac
20/07 Commsec & UBS
21/07 UBS & some from CMC
22/07 UBS
23/07 Westpac
24/07 Aequs, Commsec & Westpac
27/07 Aequs
28/07 AIEX (they dumped the 1.25 mil) + other brokers (including CMC)

It does not look like it was just ONE seller selling down. The flaw in this argument is if the seller is actually using many brokers to sell down his stock. I seriously doubt that is the case. If the seller was using various brokers to sell, then he/she/it will have some explaining to do with ASIC or ASX as that borders on price manipulation. So, please let's get this out of the way. There isn't just ONE seller trying to push the stock down.

2) I had no idea you could trade CFDs in a stock like ETC, so when you see someone like CMC Markets on the sell side, you can guess what is happening.

3) The only thing that is driving the stock down is the stock not going up. Negativity feeds on itself. We only have ourselves to blame. Each time someone sells on market, we write about it on the forum. We get scared when we see someone sell. My advice is not to look at the price action and screens too closely.



Happy investing.