FYI | May 23 2006
By Rudi Filapek-Vandyck
Talk around the traps is that the local share market was weighed down this morning by a wave of forced selling as margin calls were being made after the recent strong declines of share prices.
The S&P/ASX200 and All Ordinaries indices opened the day lower, despite the SFE futures indicating a slightly higher opening of the market.
As the day progresses, share prices seem to be picking up. At around 2pm, both the S&P/ASX200 and All Ordinaries were close to their respective closing levels of yesterday.
This could possibly indicate that the impact of forced sellers in the market has been successfully digested in the morning hours.