re: rio report Well Im not suprised to see rio up 1% this...

re: rio report Well Im not suprised to see rio up 1% this morning. The thing Id noticed over the last 7 days, is that punters seem to be equally divided on rio. I expect the real battle between the bulls and bears will happen any day now, after the lift we got today from the dow dies down. There is still no true direction yet, IMHO, with rio down in UK and up in oz. The thing I really like is that rio has traded in the top 5 asx stocks by value, for the last few days now. The volume is up, but the price went sideways. The poor results in the report were probably factored in a bit. If you look at where rios price has been over the last 12 mths, there are grounds to say rio has been smashed down too low for a drop of 10% in profits. So my question is what will the analysts value it at now, considering they have more up to date info.

My straddle went from 1.70 to 1.80, and is at 1.68 this morning. Waiting for teh action.....