what is the lowest prr is worth?, page-70

Pore,

The main problem at the moment is the media babble about how bad it will be should Greece choose to leave the EU. Fair bit of overblown fear mongering, as it is more about forcing a fiscal union in exchange for nation state sovereignty. What a rotten choice for the ordinary people of Europe, then again they seem to be easily led, and maybe this is the unconscious lesson they need to experience (again). The disruption as you can see is widespread throughout markets, but then again seems Australia's market has copped a hiding over and above just about every other market outside of Spain, Portugal, Greece and Ireland. It has been stated that international hedge funds have been having a field day in our market, something to do with currency and US market movements and the stability of our country. When the US market goes up, so too does our currency and the hedgies sell up their positions here making a nice little bundle on the rise in currency and stocks.

As a result it is very difficult to know where PRR will bottom. Provided Greece stays in the EU, then I would be extremely surprised to see a fall below 10 cents as 10.5 is the 76.4% fibonacci point below the high of 42c reached last year. As things stand 11.5c may well be the low. The close today was higher than the open. The shareholder briefing on Friday is likely to be supportive.

There is a very good weekly chart at the following link you may find useful. The fibs. above the 5th Nov. 2010 are the ones to note:

http://hotcopper.com.au/post_single.asp?fid=1&tid=1724922&msgid=9990492

My thoughts are that if Greece votes the 'wrong' way and looks like leaving the EU, then the US and ECB will be forced to inflate their money supplies, much of which will end up in stock markets. The elites will not want their market related empires to collapse, and so they will kick the can further down the road. In the meantime hopefully Asia can expand to fill the shrinking void left by the Western economies.