mrl - looking cheap?, page-2

SSB upgraded to MRL "buy" 2 mths ago when it was trading at $2.57 - so much for that upgrade!

For the past 6 weeks or so some insto has been offloading a heap without consideration as to what they are doing to the price - and the value of their remaining holding.

ING came out a week ago and said they had reduced their holding (from 19.8mio to 18mio shares).

Don't know if it is still ING offloading, or CBA who also holds a bucketload of MRL.

Bottom line is the insto concerned is still selling - typically letting the bid side build and then dumping 15,000 or so. Going into the closing auction they will typically post an offer of 60-80,000 shares at the last pre 4.00pm sale. After the auction the offer is removed and carried into the market enxt day.

Whenever the insto finishes MRL may well be a good buy, meantime I would stand aside.