No idea Sheepskin - that's not an area that I have much insight into - trading patterns/theories
I lived and worked in the US for years (Texas mostly) so I'm always a bit torn on the currency debate - but I believe a strong US$ keeps a lid on commodity prices (not so much oil per se) and I prefer a strong US$ and weaker AUD$. A stronger US and global economy adds to demand for petroleum products which is good for O&G (for which I am a secular bull)
It would not hurt my feelings to see the AUD at US$0.80 - and lowering our interest rates will see us there quicker.
I didn't examine the mgmt or much of the history of TAP - maybe there is something there or a skeleton - current assets and efforts taken to mitigate previous problems were good enough for me - hopefully a stock I wont need to be concerned with to accumulate.
TAP Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
