Far be it from me to wonder what exactly CS First Boston are up to with several quite 'out there' purchases in CRS in recent weeks. Last Friday saw them buy a million on open to push CRS up to the daily high at 57 - a level it didn't see again for the day. Several weeks earlier they did the same thing at 61.
Then, on a very weak day today, there was someone with a line for 1.5 million loitering on the bid and seeming quite hopeful of taking stock.
Southern Cross Equities on the other hand sold the same amount on Friday at 55 and have been ongoing sellers (and still are with a large line sitting at 55c still).
Must have been quite a lucky move to be short when an announcement like todays comes out after the other Aussie midcaps OXR and LHG mostly held their ground until the last few minutes of trading.....If we didn't know that inside trading doesn't happen in Australia one would have to marvel at the luck.......
Wonder if there is something going on here?
Far be it from me to wonder what exactly CS First Boston are up...
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