$ 1 resistence, page-3

News from Wallstreet has not been good, re Obama and the banking system caps. Also the tightening of Chinese credit has had a drastic affect, especially on commodities. Lastly the stimulus packages are now beginning to slowdown globally, we can just hope that the economies are strong enough to run without them at present.

Hopefully the China lending issue doesn't delay the finalisation of the CDB loan to KML. Although this loan had conditional approval in Jan 2009, so it's not an application for an entirely new loan. It seems the problem is in "new loans" only (hopefully!!!).

Earnings reports to date have been "ok" but nothing spectacular. The DJIA has lost around 550 points in the last week, the world markets are looking at a retrace here. GBG has recently had a stellar performance due to the spot prices of Iron Ore soaring and immense speculation on the next round of contract price increases. Good news should continue to flow from GBG towards the end of Q1, however I doubt GBG's share price will hold above $1 with such negative news continuing.

In my opinion it would be best to hold off buying for a week or so and see if the world markets stablise. It seems more logical to go down than up at present.