we know nuthin, page-13

Gday.

o one took much notice when it drifted down a dollar a day for about a month.

Then it gets a 10% drop, and its on everyone's radar. I've never bought a share in MQG in my life, bought 5T today at 42.50 for an afternoon rally punt, thinking the shorters would be covering, but stopped out at 41.95.

Having been on the receiving end of Babcock and Brown's selloff, and being stubborn about "fundamentals" and "logic", it didn't quite look like shorting or stop losses being hit. It looked like real selling. It looked, felt and fell exactly like Babcock did from 15.50 to 14.00 in one day.

Don't be fooled into thinking there are people out there who wish to force prices down to make profit by buying more at a lower price. Share prices don't fall 10pct with such a lack of buying support without reason.

It would be interesting to know if there was a massive quantitative fund holding a majority shareholding in MQG. It reeks of a large fund bailing out on the back of that UBS report...judging by the indiscriminate selling and total lack of buy support.

Anyway, took my hit and squared off today after making money on Telstra, and losing it all on MQG, I went to lunch and came back and saw that it closed near its lows. More importantly, the last trade before the closing price was 42.00.

This may be the cheapest buy you can imagine, judging by their cash reserves, revenue pipeline and the sheer size of its goliath money making team....but this isn't a market where fundamentals, logic or even charts make any sense.

This is about who has the bigger buy/sell order and who has to liquidate or cover immediately.

(Notice how I said liquidate or cover, there isn't anyone out there RUSHING in to buy stock...this is the major problem across the board with the markets)

I really doubt these guys will suffer the same fate as the financial engineers and infrastructure gurus of our world, but I tell you what, would not surprise me the least to see it at unbelievable levels.

Although shorting it down here is madness, one monster night on the Dow, or a seriously solid piece of news could send the shorts scrambling for the exit, man you'd be game to view this any other way than from the sidelines and the occasional 50 cent punt.

Just my two cents (or 60cents), I'm bored and with no positions.