not many sellers, page-10

estate, agree about the afternoon's trading. Very little volume and the standard algorithmic stuff. Only about 100,000 shares were traded after the first 90 minutes of trading.

But this morning's trading was genuine sellers with large parcels. Profits will be taken after a move of 30% in a week. It is healthy. The average daily volume went through in about the first 20 minutes. In my experience a gap up open, on high volume, after an overbought run is a sell signal 9 times out of 10. I'm a big Rex fan but the traders rule the roost some days.

The strength in Rex in the last 2 months has been how small the retracements have been. I can't see it declining too far below the high 60s.