Hey Warnie, I do enjoy reading your posts however believe that the point may be missed in this scenario.
If there are 100 bidders at 18 cents and 65% were males. Then the males decided not to purchase any more this would decrease the male portion and by default automatically 'increases' the female proportion but decreases the overall demand.
There are three types of buyers.
Fhob's (all purchased in 2009 like lemmings, or because Krudd told them to).
With them decreasing, you have investors or up-traders, which automatically increases the portion.
So yes you are right and so is AFG, investors are making up a bigger portion.
