Czech market hammered again in-line with region and nobody is willing to catch "the falling knife". Volumes were high, CEZ the most active. We have seen pretty volatile session, stocks are not able to hold ground. January effect? Not this year... ECM (761 CZK, -10,15%) was hit the hardest and extended its already huge losses. Komercni also under selling pressure. CEZ recovered from its intraday low 1170 and closed above 1200. It seems the blood bath is not over yet...