market action..

little volume points to stop losses imo. what a market we have here folks. A complete disengagement from fundamentals continues. we can see this across the board more and more. the larger companies have completely melted again today. some thing is really getting under the goat of the big boys. we may be about to see another major failure unfold in the US market. The futures don't point to this as yet, but the sell off seemed more than a little overdone. Its clear that people have little value in facts and have decided to vote with their feet again. Makes life interesting i guess. The banks really smell. Extra capital raised and more losses to come no doubt. We copped the miners and the banks today. Our market tipped into new territory for good measure. The lower we go, the bigger the bounce, but we will still have selling around for a while to come imo. I think the funds have worked out that the home property market is the next big disaster waiting to happen in oz. Been a while coming.
Oilyman....you can take some comfort in your understanding of the company facts. I am sure things will change for the better in time when things settle down. The easiest trend has been to be a bear. I also buy on weakness and will have to sit around until the market regains some mental ability again. The stock hit a previous low on forced selling and it seems to have some support. The A$ oil price is $84 per barrel, so it remains a solid play as always. Our time will come. dyor.