I don't normally get involved in the whole AMEX thing, but the trading of the ADRs will make for a telling tale tonight. Presently the aussie shares are trailing the ADRs by about 0.5cents per share. If the ADRs rally on past $2 then it is hard to see the aussie shares trading less than 10c/share tomorrow. If the ADRs retrace to, say, $1.85, then that would convert to 9.25c per share, or just about where the ASXs closed this afternoon. Either way, our home grown shares are presently lagging the American ones, and this could lead to some big gains tomorrow if the ADRs break higher and we start to play catch up on the ASX.
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- keep an eye on america tonight
keep an eye on america tonight
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