The Czech market plummeted 3.5% yesterday on ongoing profit taking from international accounts and a number of stop-loss trades from domestic retail investors. CEZ was the worst performer with a drop of almost 7.49% to touch the CZK 600 level towards the end of trading. Unipetrol shrank by almost 4.9%, Orco 4.7% and Philip Morris 3%. Volumes continue to be well above long-term averages. We are seeing selective buying into the market, particularly into Komercni banka which seems to be trading at very attractive levels - it may be a good point to enter the stock ahead of the earnings release next week. Even though we expect further weakness before the year‘s end, today we are likely to see sharp upward move as some of the names have been oversold (CEZ, Orco and Philip Morris) and the strong overnight performances of overseas markets will give many investors the appetite to buy into local shares again.