There has been an insto - ING to be precise - selling down their...

There has been an insto - ING to be precise - selling down their holding of MRL for the past couple of months.

Typical of insto's style when they decide to quit a stock the exit price has been of minimal consideration. Holding a fair lump of MRL I have naturally had a keen interest in the price action during the panic exit by ING.

There was a "special" trade that went thru today of just on 5 mio shares - if my guess is correct then that will belong to ING, and hopefully their dumping will now end.

If so, expect MRL to trade up to around the $2.60 level ina few weeks. No fancy technical rationale, just a gut feeling.


As an aside, got my (very small) piece of revenge against ING for what I consider to be a stupid way to manage a portfolio.

Had a scheduled meeting with my super fund administrator to adjust my super porfolio investments. He recommended shifting part of my portfolio to an ASX fund run by ING!

Given my observations of ING's fund management style as it related to MRL I told him I have no interest in outting my funds with them. Not boasting (or whatever!), but we are talking about a six figure sum. THE PEASANTS ARE REVOLTING!!!!