you have to have the strong to have the weak, page-7

LOL - well worth a watch, and I agree not going into oblivian, just the sub underwriters who had to take the 100 odd million shares and the instos that took 54 million shares in the cap raising (approx 15% of the expanded capital) trying to save face, letting the share price run up and then selling them down.

Running the numbers, assuming that the run up in volume prior to the entitlement offer is shareholders lightening the load in anticipation of the take up (although I suspect that there would be a significant portion of shorters closing positions), if you average the trade volume before and after the annoucement and also over the last 8 trading days (since volumes spicked during this time) I would say that at the most 120 odd million of the shares from the entitlement offer has changed hands.

So maybe you are right, although I suspect my numbers will be overstated for the impact of shorters closing positions, so I would expect that there are a significant number of shares still to be released, which will continue this cycle for a little longer before the share price is restored.