what is going on!, page-2

I agree that selling out now after all the +ve indicators from the testing results so far seems contrary to what you would expect as does the SP drop over the last couple of months.

Average daily volume for the month prior to today was 293K but last Thursday's turnover of 752K was the biggest volume up until today. Today's trading seems a little odd. Although the volume was the largest for the month at 934K, there was over 606K sold in a 12 minute period between 3.14pm and 3.26pm including one large trade of 198K at 3.25pm. It seems a little orchestrated concentrating most of the sells for the day in such a short period.

At this stage I'm not overly concerned about what has happened to the SP as it has been on low volumes compared to the shares on issue of around 201mm (of which from memory 36mm held by Nations are escrowed). ATM trying to pick the low to further average down is a little tricky as it sets new lows and there doesn't seem to be much support anywhere. It could drop further with the lack of buying support and as holders lose patience.

ANZ