up 47c in 5 days, page-17

A few thoughts...front page FT article today on expectations that 2011 mining capex will exceed the previous high in 2007...AFR article today that Australian mining execs in 2011 fear cost escalation from service providers like BLY...BLY has just had a very strong 9 day run up, which is fairly typical for BLY when it moves, so some retracement now as shorter term profits are taken...but I would now expect it to move up to 4.80 level once short term correction is complete...