Cause and effect?, page-5

1.85m gross shorts yesterday, that's a huge number - very high percentage of the selling, as has been the pattern over the last month. Presumably even more today.

People getting calls from brokers today,
- 'we're bullish the stock medium term, but why don't you get out and buy back lower'
- 'this stock is being heavily shorted, don't fight the trend'
- stop losses / margin calls

It's exciting if you are looking for a time to buy, which includes the shorters of course.

Where the dip stops can't be predicted except to say lack of debt / cash in bank and undisputed quality of business and high profitability ANZ does set some sort of floor. MS value the ANZ business alone at $4.80.