I don't think this drop had anything to do with either technicals or fundamentals. I think it was a share structure issue. A previous poster cited Chinova(?) as the culprit. If it were them then they clumsily disposed of their large positions probably on Chi-X.
Again, if, the problem lies with the seller, eg. margin call, bad outside market position gone worse, internal debt issues, this would explain their full on sell.
Next week should provide some clarity regarding changes in substantial holders holdings announcements. That may be the only bit of clarity next week as the US election will dominate the world markets in most everything.
OV
ERM Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
