sentiment

Downer has had a 20c range lately between 4.50 - 4.70. There has been lots of buyers at the mid 450s and then lots of sellers in the upper 460s range. I think the cap raise fears are unfounded and the problem is fear and sentiment is endemic in all cyclics at present. And downer is not immune from this although it has been murdered in the last few week. All engineers are down today, although worley has been up and down. It seems like there is no end to this silliness and it looks like this circus is still going to go on for still some time. It seems that shorters are playing dow. Its the way it is I suppose.