Those that you do talk to are more comfortable sitting on the cash. There is some concern about the decline in the banks, but no-one's talking about a crash.
Most investors appear prepared to ride it out - for now.
Another dealer said the selling had been across the board, with banks and resources hit particularly hard. The company has been holding talks with South African platinum producers Anglo American, Impala Platinum and Lonmin over the Ngezi partnership. ERG resumed its downward trend after Thursday's brief rally. As the expectations of returns from the 3G spectrum auctions eased, the telco sector remained mixed. Hutchison , which hopes to benefit if Vodafone wins the battle for the Optus assets, rose 2c to 98c.