i think the thing to realise here is that the low for the year...

i think the thing to realise here is that the low for the year (century?) occured when there was a wash out day on 12 nov.Since that time the XJO has continued to fall and sfh has held well above the lows. No doubt there has been bargain buying at these levels.
people have been accumulating at these levels but the sell liquidity is very small therefore not possible to do any major buying without moving the stock. Obviously cotton on has been quietly buying as the stock moved lower to flush out the last of the weak hands.