Good to see UBS starting to sell down their position. UBS are one of the largest shorters on the asx and took up the recent position after the 80 million sale to Credit Suisse knowing the SP would go down to around the $7.3 mark.
I've been buying over the last couple of days I think anything under $7.3 is good value. Year on year growth is great and it's an every growing 'safe' market. If a large institution that know a lot more then the average trader is happy to invest 80 million at that level it gives me a lot of confidence in the company.
GXL Price at posting:
$7.12 Sentiment: Buy Disclosure: Held
