Many of us here (like me) increased my stake when the volume when bananas as the big crossings came through after BHP exited RIO. The 120m volume day is a big sign.(morgans Stanley was the obvious culprit)...maybe there is another according to Rebel.
There was alot of margin selling when it fell under $1.00 and its move to 80c panicked alot of small people too. Not me....and not the big holders either as the changes in sub notices would all be out now.
I knew its worse worse case break up value was $75c-1.00 in receivership even in this horrible market. But still likely to fetch near $2.00 when PH finished.
OZl was just caught in the OH margin squeeze thing and refi thing. Those are golden moments for opportunist strategics. Rare.
Morgan stanley buying is either: 1: On behalf of the Chinese (as one of their foreign IB's)or their 2. own hedge/long fund wanting to merely arb a block in the event of takeover.
BHP does not deserve our shares for a song and the WMC comparison is spot on.
To sleep better I would just like them to improve their news flow first. Removing Admin risk would help all shareholders. Maybe the financial statements release that the journos are saying is coming will do that.
If so then odds change in our favour and ill redo my survival odds thread !!
OZL Price at posting:
$5.50 Sentiment: Buy Disclosure: Held
