2011 crowded markets , page-25

"The laggards are the banks. Can't re-visit April high without banks catching up with miners."

Dead right. Although we're fine here as part of Asia, the uncertainty of the gigantic zombie debts in US and Europe is the fear overhang for a cascading debt failure. So the question is will they let states, banks and entities fail or will they print the money. We don't know for sure and therefore our banks are under performing. My guess is when it comes to the crunch US and Europe governments are weak, scared and they'll just print, as they've done each time so far in the GFC. It's just paper and electronic entries so it's limitless. This is why I don't want much cash.

So because banks are down and are a large part of the index the XJO has good potential once the market believes US and Europe wont allow their precious systems to fail. Of course this will be also bullish for resources. imo.