Relax everyone. Most likely margin calls.Also Lot of nervous people and I would not be surprised that long term shareholders from way back - had enough of the share price uncertainty and decided to pull the plug today.
Metal prices would stablise soon once the international hedge funds stop their panic selling. It would appear that LIBOR rate is showing some signs of improvement .. and if everyone believe the market has bottomed out (albeit temporary), it would people a bit of breathing space.
I am actually surprised by today selling of resources because the LME metals are currently up from previous day. The US Futures were up at one stage and now still managed to hold yesterday's closing level.
JK5
OZL Price at posting:
$9.85 Sentiment: None Disclosure: Held
