why the selldown, page-4

sheepwash - investment houses develop investment plans and then tend to execute them. It seems that Renaissance have a plan to get out of IGR. There is no way that we could understand their motives unless we knew more about their investment plan. It may be that they have completely stuffed up and now need to bail out other poor decisions.

Like you I think their actions are about as sensible as pulling your own fingernails out with a pair of pliers but they must have some reasons for what they are doing.

I think the question of the hour has to be: Are they going to sell all of their remaining 18 million shares? Perhaps gold will continue to move up next week and they will stop the sell off. I just wish they could find someone who wanted the shares and organise a cross trade so it doesn't keep hammering the SP.

BTW you should be aware that there are a bunch of day traders following the selloff and making a quid from it. Some of them might even be posters on HC ;-)