I suspect trading tomorrow will probably answer this conundrum, but I know there are some far wiser owls than me that contribute to this bb & I would be interested in their opinions.

My question is this: the chart below looks to me like a pullback of the uptrend (ie when it went north through 14.00) however I am unsure as it has now broken down through 14.00 whether this is trending up or down :-(

So what do you think - up or down, or should I just flip a coin :-)) ?

EK has been short for a while now. Are you also shorting this hlyeo?
I only really bought this for the divi, so probably won't get back in until next divi is due.

I got in too early at 300p on the collapse a few weeks ago so I've held on for the sp to recover. Fortunately I was able to get out this week at the same mark.

From today's Times ...
Re. Man group due diligence
Horlick claimed that Madoffs advisers said the firm had been subjected to a full-scale investigation by the US Securities and Exchange Commission twice in the past two years. She also stressed that international accountancy firms had been auditing funds with exposures to Madoff.

She added that Bramdeans investment performance had been very strong, aside from the potential Madoff losses. Bramdean was about to redeem some money from the Madoff fund when the scandal broke.

She continued: I never met Madoff he didnt meet any investors. All contact was through these feeder funds that supplied him with the capital. The strategy we were supposedly buying into was very conservative.

There was extensive due diligence being conducted on the funds by our advisers, who are part of Man Group. He must have been matching the amount of money he paid out to what would have happened had he followed the strategy that he said he was following.

Mitzy, can you put a 50 & 200 DMA on that graph, otherwise not much to go on?

Man Group, the London-based fund manager, had roughly $350m lodged with Madoff via its RMF operation. Bad luck.

Horlicks is suffering from Mad cow disease poor thing.

still falling sub 100p is my target.

This is interesting because the selloff is presumably as a direct result of the Madoff link. The sp was steadily rising, even in a time when this sector was out of fashion, so the current downside surely must be a kneejerk reaction to the bad news. However "This investment (Madoff losses) represents approximately 1.5% of RMF's funds under management, and 0.5% of funds under management for Man Group as a whole", which in the grand scheme of things is a tiny amount. Even though the stock has gone ex-divi (which I imagine they are regretting now), the drop in the sp seems to unfairly reflect a very small loss via RMF. Maybe it's just another case of confidence being eroded in a shakey sector, or the possibility of more bad news?
I do not currently hold, but sub 200p would seem to be an over reaction & is worth watching, imo.

I agree Harry its a Madoff thing.

I dont hold but am watching for an entry @160p.

Still in a downward trend despite todays rise.

Too many broker downgrades for my liking. Watching, but staying out for the mo.

I agree Harry best to keep an eye on .

Chart is a disaster it may well fall to 100p.

another red day for Man.
I hope everyone is out of these as its going to get nasty.

Additional listing just announced that explains the 10% fall today.

I would be interested to know if anyone owns EMG?
The core AHL business is as strong as ever, and most of the issues have revolved around the FoF business. I understand that all the FoF activities are being taken under one roof, though I am uncertain what the future will hold here.
My parents have lost 200k on this so far! A contact has said now is not the time to sell, but I do not see any immediate upside atm, and immediate gains can be attained elsewhere imo.

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