The only other theory that springs to mind is that people are...

The only other theory that springs to mind is that people are crystalising losses for the tax year & the SP is being suppressed.
Certainly needs some action from the registry to manage it if it is JPM again. Wonder if we will bounce off 48c again?
I'm convinced JPM or their bedfellows are just waiting for a pullback in the AUD as an accumulation oportunity. I'm not buying into anything at the moment until the XAO does it's next leg down, then I'll go bargain hunting, I'm thinking about 4 to 6 weeks from now, I wish the market would just get the correction over & done with, It's mighty tedious watching everything flat lining.