poor timing by new city investment managers

poor timing by New City Investment Managers with regards to liquidating 9.1mm shares recently for around 13cents per share.

no doubt they needed to top up their coffers.

from my research i understand they actually paid approx 50 cents per share from a placement dated 28/5/08.

so it seem they were forced to liquidate a few shares from it's portfolio, hence selling 9.1mm Nido shares.

it now takes them just below the 5% level where they would need to notify the market with reagrds to share movements.

i suppose if they were smart cookies they should have offloaded some much higher than approx 13cents.

although they still have approx 49mm left i doubt we'll see a continued liquidation by NCIM.

sorry guys you get a "thumbs down" for timing.

we may be at the end of the market down cycle and this would be the time in which you'd be bargain hunting NOT slashing at the wrong end.

see below S&P500 quarterly chart, with a little luck we may see a beggining of an upward trend very soon.