Running discussion on SP, page-7248

Basically the index funds have sold some 7 mill shares as we exit the ASX200
No doubt this amount has been negotiated with respect to price with the shorters, who are now able to exit a good chunk of their shorts at a good price
When the index funds bought as we entered the ASX200, some 7mill shares were purchased around $7.50
The index funds were then happy to lend these out to shorters and then the fun began
Sadly the index funds do not give a rats about where the price goes to as they are only tracking the index
Disgusting really as they are not accountable for their part in the downward price spiral that results
Effectively they have bought at $7.50 and sold at $4, but think their job is done as they only have to track the index
No accountability whatsoever for the index funds
Glad we are back in the ASX300 for a while so a large supply of the shorters stock is not available
Hopefully WBT can over the rest of this year lay some good foundations without this added pressure from those who have a different agenda