DP World and JAFZA repayment of Sukuk

[technical]

it's a crazy trading day for DPW, coming to a near limit down at 0.315 from yesterdays limit down of 0.366 then climbing as high as 0.39 currently.
I believe this happened for two reasons. One is technical: 0.30 is a crucial support where there was a rally all the way up to 0.60 (0.599 to be exact). 0.30 had a 5 day consecutive attempt to break down in July and the failure resulted to the uptrend. From a Fibonacci perspective, the historical low of 0.17 to the recent highs of 0.60 would have a 62.8% retracement at exactly 0.33. Thus, the 0.30 support and this fibo level may have given the signal for the market to favor buyers and take advantage of a retracement from this severe downside scenario.

Second, at 12pm, it was announced (as read on Bloomberg news: sorry i dont have access from my screen to the other computer to quote it, too lazy) that Dubai Worlds JAFZA arm was paying/paid its Sukuk requirements, signalling that Dubai World companies may have the capacity to repay its obligations, but that restructuring is necessary on the basis of the credit risks some of its units are facing. As such, it can be seen as not the doom and gloom that observers predict and therefore, very positive.

I was recommending yesterday to my trading buddies and friends about the near 0.30-33 level buy scenario for DP World once it resumes an expected limit down again, but me myself was too chicken scared of the way the market was behaving and ended up not taking a position. Shame!

Anyhow, i just cant help but formulate a bad conspiracy theory, albeit an unfounded theory, about the recent happenings in Dubai. It may seem to appear that the Gods in government knew exactly what they wanted to happen before their announcements last week. Probably selling state backed companies share at a good price, or private/public individuals offloading their shares, with the aim of repositioning at bargain prices. Then when all chaos has swarmed, enter at bargain prices then they come and announce the repayment of JAFZA sukuk obligations and thereby taunting the markets, saying: "See, we told you we are alright. We told you to shut up! We only wanted to make sure that we restructure our quasi state funded companies in relevance to the current credit environment, but it doesnt mean were bankrupt!"

Oh well, they're just mere thoughts...