credit suisse euro trash lom

Well, so much for the theory of CS selling just to raise money for LOMOA option conversion,. The last change in substantial holding notification indicates they're still dumping stock- several million shares a week... 62m shares to go.

Various ruminations (some jaundiced).

1. They bought several millions shares at 50c in 2006 why sell now after all this time?

2. Their average price is 8.3c (see an earlier post on this) why sell now? in 12 months your boss in Zurich will want your nuts in a jar for missing out on a 10+ bagger.

3. Assuming they convert all their 51m or so options, they will have 113.2m shares for an average price of 5.8c roughly as per 21-Oct. So is close to break even now. LISTEN! YOU DONT HAVE TO SELL ANY MORE, ITS ALL GOOD.

4.H?REN SIE, SIE M?SSEN KEINE MEHR SEIN ALLES GUT VERKAUFEN. (google translation)

5. They ned to sell $6.55m to free carry from now onwards only practical at a much higher price.

6. Its a pity the ASX hasn't a clause for canceling options on the basis of client stupidity (although most of us would get caught out more than one would want to say).

7. The share price has held up pretty well given the sporadic 0.5m and 1m dumps....... but I think we would be well north of here without the 20m plus dropped into the pot the last several weeks. Is an opportunity for others to accumulate at lowish prices though.

8. Given a good announcement, it is possible they may dump much of their holding as the trading volume gets up which will cap the % rise significantly.

9. One this overhang goes LOM should fly ....but when ?

10. More confirmation of why I hate the international banking system responsible for the GFC.