great legs...shame about the face...

LEG may have some legs...

But at one point today, LEG looked pretty ugly!

Fortunately however, even the bears, drunk with their recent excesses, seemed to be saying enough is enough, as became obvious when selling came to a sudden halt after a poultry 15K sell order went through at 10.5c...which was obviously someone testing the waters.

But I guess when all is said and done, given the performance of the wider market, it actually held up reasonably well.

LOL...how lame...but what else can you say?

On the positive side of things however, we did see a very healthy recovery today, with the VWAP finishing just over 12c, in spite of today's low of 10.5. In addition, some of the biggest orders went thru as "at market" buys towards the close...equally interestingly, once these few buyers appeared, there was virtually no selling resistance, suggesting those who had it in their heads to sell today, had more than likely done so.

In fact, I suspect the few who did sell into these late buyers, were more than likely those lucky enough to have picked up some cheap shares earlier in the day.

Anyway, perhaps the best thing to come out of today's carnage, is that we have yet another 6.1m of overhead out of the way...although, having said that, we can still expect about half of today's buyers to sell below the 16c level...but even so, given the relatively few to have followed the price down, it would only take one busy morning to get comfortably back over this figure in my opinion.

I can think of several upcoming announcements that would be capable of achieving such a result.

LEG was a victim of the wider market sell-down today, as were just about all the other small cap resource stocks...however, you may have noticed that some of these stocks experienced something of a recovery later in the day!

But not all of them...why would that be?

Cheers!