Hellyeah,,
There are many overseas Investment Companies that are selling down or liquidate their Australian Shares Investments, due to the fact of the high AUD$ value.
One has to consider that for many of these Investment Companies, they would have bought into the Australian Sharemarket when they were paying only about 50 and 60 cents for every AUD$ they were buying. Now the AUD$ is buying 1.07 of their USD dollars.
Nevertheless, they can now cash in, even if the sp has dropped, at huge profits to them. So why wouldn't they sell out with such huge profits in front of them.
IMHO, that is what is keeping the sp's down. The big investors selling out to take profits off the table, and not just people shorting it. No doubt the shorters will have a field day as well knowing that these selling with trigger stop losses and marging callings.
DYOR.
Buddy
afr 20/4/11 pg 49 - shale gas, page-18
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