rio put's, page-9

Guess Work,

I hope you didn't buy those Puts on RIO. The stock was up 4% in New York and broke very heavy resistance that has held it back for three years. This is a very significant bullish move and must not be ignored when also considered in light of:

RIO in Australia breaking through its downtrend chanel from the beginning of 2003;

RIO in the UK breaking out of its downtrend reistance from February 2002.

RIO is very clearly a LONG at the moment with next resistance at about $35. Monday RIO will probably hit around $33 and I suspect that this run could take it close to $34 before we see a pullback / correction.

PeterV - I like you have traded RIO a lot in the past and have become very frustrated when RIO is not doing what it "should" do. The one thing I have come to accept out of all this is that it is never a case of I am right and others are wrong - rather that the market is always right and just hop on board for the ride. Good luck with your positions - you have a lot of hard work in front of you from here.

Regards,

Jaysee