ABS fell from well above $8 to about $3.80 due to the wider...

ABS fell from well above $8 to about $3.80 due to the wider market correction and perceptions of a looming debt problem with an inability to service...

It was then sold down to as low as $1.15 on the back of the manipulative and subsequently effective shorting sting, designed not only to unseat directors from their positions (and power), but to effectively purge the company of many of the issues it was facing.

The latter has been mostly addressed now.

So, whilst the wider market conditions, mostly on the back of a new credit squeeze environment, initially lead to a "correction" down to the $4 level, what followed to bring it all the way down to current levels was an entirely manufactured process, designed to achieve a particular outcome.

That job is now done!

Technically we have a very big, very attractive gap between $2.67 - $3.74...I would suggest this might be a nice target in the medium term.

Any trading into this range, any at all, will likely set off a stampede of buying.

Over 311m shares were churned to bring this undone over a two week period from $3.77 down to $1.47, a great number of which were clearly short-sold and/or borrowed postions.

In the 7 weeks since this time (excluding yesterday), we have seen some 193m shares churned in the $1.28 to $1.71 range.

Yesterday was predominantly a short-covering buy-back which saw the highest prices since the initial purge.

I suggest given the numbers, there are still quite a few borrowed shares that need to be returned to their owners, as such I am expecting something of a head-to-head as the longs will likely try to make their life diffilcult.

Cheers!