thursday trading, page-35

Thanks red - will look out for them.

Another factor playing on our market is the amount of capital raisings going on. It must be absorbing a huge amount of the buying pressure. One reason I think we need a further drop to provide a springboard into a rally. Otherwise all attempts to rise have the momentum sucked out of them with the cash these things are draining.

Interesting that raisings are nowhere near as prevalent in the US. Perhaps their companies are far less leveraged than ours are, or is it just that their CEOs are not so easily suckered by the broking community?