140p
There are good reasons why this strategy works more often than not. Technical selling by index-tracking fund managers, who have no choice but to dump their holdings in the laggards, and short-selling by traders riding the downward momentum, have the effect of driving shares of these companies below fair valu, making them heavily oversold. In turn this offers nimble investors the opportunity to buy in just as the selling pressure starts to abate when they exit the index.