must say i'm dissapointed this morning waking up and finding that gold couldn't hold above the $1000 level overnight, I really believed it was ready for a sustained push above the level.
as a result of the price action in gold expect to see a slight profit taking bias across the gold sector today as some nervous holders exit fearing a further retrace.
was just reading an interesting article in the australian regarding a re-rating of the benchmark Asian Share Index to include South Korea meaning Australia's weighting in the index is to fall and fund managers will have to sell ASX stocks to balance their index weightings, could be something to keep an eye out for in coming weeks. Below is the link.
finally keep an eye on FUT this morning, they announced a coal seam gas deal late yesterday, this one will be a daytraders delight, high liquidity with a possible re-rating story.
chart looks great a break above .9c will signal a major breakout.
