Short Selling Gross Sales as a Signal?, page-94

You answered your question for yourself...

'I think that's to be expected that we won't see any substantial holder notice, as most institutions would be waiting for more news. '

So if we are waiting until August in this information vacuum, then, apart from the odd few pip rise in occasions, then the share price will drift lower.

The gap may have been a breakaway gap, but we will not know this until a bottom is finally reached.

A slow bleed like this is almost worst than a haemorrhage. You watch each day expecting a rise, but it is either flat or slightly down. Losses build. This fuels further capitulation.

I bought in fully expecting a market update to reassure the market. That is, tell us what you told the banks.

I really liked the announcement regarding bank support, but also accept that management have been good at convincing banks to back them despite some shocking decisions being made. After all they are lawyers......sell ice to Eskimos and all that.

So yes, while I am comforted with the banks support, I also know they are self-interested and until we know the success, or otherwise, of the overall venture, then it is at high risk of missing targets and continuing the death spiral.

I'm sticking with them for now, but hope that management drip feed information to the market in order to maintain confidence.

Milesy