2 leg down to be devastating, page-64

Thanks Neil. Well thought out and argued.

You may well be right in respect to the "true" value of pdn.

Regretably, the market such as it is at the current time, is discounting it and my view is that pdn's s/p will continue to be discounted as long as the sentiment of the market is bearish. This could change in the short term but I believe it has more legs.

I base my price predictions for pdn on a range of factors, but I am, I admit, highly influenced by the current market sentiment.

My personal view is that $4 would be very good value indeed. Anything below would be a bargin, but the problem here is what appears to be a bargin today, can be seen tomorrow as "paid to much".

At the end of the day, the market will set its base price for pdn as it does with everything else. That much we all I think can agree on. The big question is what is the market going to do with pdn in the short term?

I have a strategy in place to trade pdn on an intra day basis. In and out. I have studied the s/p movement looking for any pattern which, as I have said is difficult to find other than in general terms, pdn is moving in line with the All Ords. South.

How far south? Time will tell.

btw Have a listen to BBC World Business Review. Very informative.

http://www.bbc.co.uk/worldservice/programmes/world_business_review.shtml