Ann: Ceasing to be a substantial holder, page-27

Kinda agree. It looks like Regal bought in with ML’s money in the 6s intentionally or not nobody knew. But it appears very likely ML is behind Regal’s dump throwing everything to short and leave that’s for sure. Whether ML made that much overall money in their trades over the last month is doubtful as ML lost quite a bit in Regal’s sell . Last week has seen quite a bit of shorting positions increasing on NXL and if you compare to ML’s announcement , it looks likely majority of shorting positions raised since 16/03 were ML’s. Their complete exit at current level may signal shorting has bottomed. I don’t think further shorting position will be opened at a large scale without someone jacking the SP back up quite a bit. ML took the opportunity and everybody big boys included is now under water again. It looks a bottom for the next 2-4weeks. If positive news flows in then would be the real mid-term bottom and a steady climb will go from here me thinks.