PLS chart, page-13703

Ah. Ok. That means there is no more supply to bail out the shorters in the short term, but it also means there is no incentive to keep the price above 410. On the other hand, while some merchant banks are gunning for a rise in SP and some are gunning for a fall in SP it means that it becomes a straight battle between two powerful forces, with the shorts as always having a slight advantage since the super funds keep supplying them with shares, unless they have to liquidate stock to meet payouts. The hidden thing here that might change the game is the excess mortality figures in Oz and the West generally which are running at something like 30% over the last couple of years and trending up, thus all the superfund's cash management projections are seriously wrong and their requirement for large payouts for the insurance part of the super plans will be escalating, hence they might shift from needing income to needing capital, and be decreasingly interested in seeing their shareholding values decline in exchange for rental fees from shorters. We may see that side decrease over the coming months with a bit of luck (unless one is one of the excess mortality stats, in which case it is the wrong kind of luck.) Perhaps I'm just dreamin'.