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zabros....nice thought ...but at these levels ..just to risky..the shorters could long at any time....
we saw this same market reaction with the dubai default
Dubai default fears rock markets - Telegraph
http://www.telegraph.co.uk/finance/businesslatestnews/6664913/Dubai-default-fears-rock-markets.html

we saw it with the Iceland Bank scare
Iceland Defaults Triggering More CDO Woes naked capitalism
http://www.nakedcapitalism.com/2008/10/iceland-defaults-triggering-more-cdo.html
the market got over it and stormed ahead...

its been repeated for a almost a year now...and we will probably see it again and again...till real strength returns to all economies

these shorters have a bottomless pocket...they do this for a living...they have all the technology to beat ordinary traders to a pulp.....you would'nt stand in front of a bursting dam ...you can't hold the tide back...the smart thing is to get out of the way and wait to see which direction they are going...less profits but much safer....

at the moment the market trend has forced people to sell stocks to meet margin calls,t+3,and generally to cover themselves as they are financially over extended...this will settle....most will have settled within 2 wks of the initial rout....those panic sellers will be out of the way...and have been mopped up by cashed up traders and the shorters will be ppreparing to go long.....
were the bottom is...no one ever knows....some say 4500 as they are trading the index...best watch the index to get direction....individual stocks are little help...

on another note...the USD rises...thats good for OZL USD reserves...and good for their sales as they are denominated in USD...
the flip side is cu is down...but the rise in the USD is some compensation ..2 fold the cash reserves rise when converted to AUD and the rise in the USD appreciates the fall in the actual cu price ..on conversion to AUD....
...its be nice to see the cu price rise along with the uSD...
...the market price does not appear to factor in these events....and until ozl makes a significant discovery...we can expect to see the shorters continue to call this their own personal trading stock.....
....the positive is ozl is a safe bet if one holds...over $1 bill in cash no debt only a conv note which is not a prob....cash flow from sales....a fully operational modern mine in a country free of soverign risk and no shortage of customers....take a breather and turn off the computer for a week ...and wait....otherwise it'll aggrivate the hell out of you....and cause you to make mistakes....
....if ozl does continue to slide along with the rest of the market....low 80's has to be considered an opportunity with an attachment...one has to then sit and wait for an easy rise back tio $1 for a starter....it's done it before and will ,in my opinion not dissapoint....
...best of luck.....