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davlz22 - Wed, 14 Dec 05 :

Re my post above, it's mainly margin traders who margined-up pre- and immediately post- the results announcement who are now crystalising profits, such as not to remain exposed on margin, or minimising losses (those who bought aqbove this price).

It is notable that IG were not taking bets on AZM last week, as their limit had been reached, ie the level of margin pozsitions on AZM at that time were evidently very high. As soon as these positions are cleared, upward momentum will be restored. (Dec spreadbets also terminate this/next week, which no doubt some are closing now, adding additional pressure.)


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