This is true. In addition, this is an unforgiving, sustained period of blood-letting on the bourse, and the first companies to get hammered are those that have risen heavily.
Someone also drew my attention to an extensive article in either the Fin Review or the Australian that appeared a few days ago, in which Woodside boss Don Voelte contended that CSM companies are way, way overvalued and he supported his contention with excellent reasoning. I just thought this article may have also scared off some speculators. You should be able to dig it up if you subscribe to Fin Review online!
Mudguy.
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