GND - Any ideas why it is being hammered?

[#1]

GND are sitting on a huge cash pile; they have 51% of the 2009 book filled & 35% for 2010. All indications are that in 2010 demand for comodities will be increasing & at low oil prices = low bunker oil prices - surely this must mean a good return? Or is it just John shorting the market that is driving the price down?

[dilligaff]

Might it be the global state of shipping, including the infamous Baltic Dry Index?

[dilligaff]

Try this picture
http://www.bloomberg.com/apps/quote?ticker=bdiy&exch=IND&x=15&y=11

[#4]

They also gain significantly on rand dollar terms. Last announcement was they were expecting 80% HEPS growth for december. Even if sales come off by 40% for next years targets, it will be mitigated by rand dollar exchange. My only concern is their mining investments and banking business. I am a big GND fan though

[kwagga]

Must have something to do with the BEAR market we're in - just a wild guess.If you can give me any reason why all shares should not be hammered in a extensive BEAR market, then I guess you've got your answer.