The reason for larger than expected 'no news' moves is usually hedge funds, often moving in groups, investing long, shorting or covering: the financials are currently their playground and will continue to be until all the news about subprime is finally out in more than a year. For us long term players, reassurance is provided by director purchases - in this company recently at Euros. 17.67, 16.56 and 16.21.
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