Loki, I think this correction is pretty easy to understand.
It's all $A related....remember when all our resource stocks were going up, in lock step with commodity prices going up....but nobody seemed too worried that our dollar was going up as well??? Now that we're well over $1.05 USD, the penny is finally dropping that those commodity price gains are somewhat of a mirage, and, in fact, the appreciation of the Aussie dollar has outstripped most commodity price gains.
Is it any wonder we're having a correction.
PIR Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
