Thanks for the info, so what I have been trying to work out is how a SP can be manipulated so heavily. So if UBS and Macquarie etc are trying to bring a price down for their own interests, why aren’t the super funds seeing the manipulation and low SP and buy in on the back of it. There are a lot of them and a lot of money in them. Fair enough when we were a bit more of a speccy, but we are in the asx 200, making good profits and having exciting times ahead. Why aren’t the super funds seeing the upside and buying in while the price is down.
The ignorant idea about the formulas came from my understanding that many super funds are somewhat weighted to the market, therefor buys and sells would be triggered by these weighting’s. I do understand that there is more to it and but do believe that the big instos can send signals to the market that the super funds respond to, I.e. the idea that the UBS’s don’t have to do all the heavy lifting.
GXY Price at posting:
$3.48 Sentiment: Buy Disclosure: Held
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