bring back the smiles, page-14

I know the dropping SP carries with it a lot of angst and I hate to be a wet blanket and all ..... BUT...

Isn't the upward movement today on the ASX just achieving arbitrage equilibrium with Nasdaq?

Last night's trading in the US was still a lower high and lower low than the preceeding day. At closing price of USD5.80, this is equivalent to AUD1.05 for CDI's. Closing price on ASX was $1.045.

The price difference between the 2 markets before today was creating an arbitrage opportunity.