Loki01Thanks for your honest post that touched on some very...

Loki01

Thanks for your honest post that touched on some very relevant points.

The AUD just isn't doing our market any favors at all. I previously thought it was approaching its peak against the USD, however Bernanke's determination to keep US rates on the floor will likely give cause for some more rise.

Whilst the Australian OCR is so high comparitive to other developed economies our market will likely remain sluggish. I also can't see any justification for Resource stocks to go higher unless its on the back of M & A or individual company success in exploration etc.

I don't trade and generally take a long term view, so all of the above doesn't concern me too much as at some point the change in AUD/USD balance that is likely inevitable at some point in the next couple of years will provide a tailwind to our market.

Underlying low unemployment should lead to a broader based recovery across the economy as soon as the consumer decides they have saved and reduced debt enough. Most of my portfolio is now in the slow lane as it's where i see some value to apply fresh capital - in the meantime I collect dividends.

I too am poisioned off oilers for the foreseeable future. To prone to unknowables that make predicting production and cashflow a complete black art.

Will stay the course with CVN, but wouldn't ponder buying more.