AS OF 11.30 this morning Fairfax shares were down another tick, to 57 cents. Watch the volume through the remainder of the session. If previous patterns repeat themselves, the volume of shares changing hands will rise in the late afternoon and the price will return to somewhere near where it started.
Someone is buying on the dips, or so it appears. Given that Mrs Rinehart is very close to her 19.9% threshold, can they all be going to her?
Wouldn't it be interesting if she has an ally or two taking positions in FXJ. By the way, what has Clive Palmer been up to lately?
UPDATE: According to a news flash on 3AW, Phage editor Paul Ramadge is just now informing staff that he is standing down. It must gratify the newspaper's anti-Rinehart activists to see their captain first into the lifeboat.
UPDATE II: Heads rolling at the Silly as well.