NZX

[kiwigooner]

What the hell is happening to NZX shares. Another fall today. Is there a bit of panic selling in case it continues to drop further. Are we likely to see it hit $9 again? Your thoughts.

[willy_wonker]

Reserve Bank put up rates 25 points today and expect further increase in the future.

[sharebattler]

As I do not have a feed of NZ share data to my charting program I am relyng on a fairly simple chart from Access Brokers but it would appear the NZX maybe at a resistance level from where it could turn but if the resistance level is broken it will continue to fall. Next week should give more of a indication

[kiwigooner]

This stock has been going up and up, and there appears to be very little in the way of support and resistance levels. I note that volume has greatly diminished over the past six months.

One explanation I suggest is that it was becoming a $10 stock, in which generally there is a reluctance to buy/sell >$10 stocks in the NZ market.

[David Hardman]

Big line of stock just got traded off market

$6.5m traded

That's 6% of the company.

Only a few holders had that much stock.

Remember no one entity can hold more than 10% of this stock.

Interesting!

[Steve]

It was Computershare selling off their entire holding according to the SSH notice...

[David Hardman]

Yup see that now.

Obviously Computershare are less than impressed with the NZX plans to get into the registry game.

I think they would of liked to of taken a bigger stake in NZX to avoid the potential competition however the 10% cap on put an end to that dream.

They would have booked a nice profit on that sale picking up most of their shares sub $4.

David

[Steve]

I wonder if it was sold to just 1 party? Guess we will see if there is a follow-up SSH...

[ari]

How are others fairing.....slowly gone down hill over the past 8 days to be now 3.38% down over that time:(
Oops..pretty easy really when you hold TEN, GDC,TRH etc