Im no chartist guys but looking at all the macro economics I belueve we are havibg a nice healthy correction. If you look at two year dow the correction is almost identical to this time last year, followed by six months of strong growth
"The US Federal Reserve Beige book suggested that economic activity across the 12 reported Fed districts generally continued to expand albeit at a slower pace in May". Craig James
The US economy is still growing and it is healthy not to grow too fast. QE 2 will begin to kick in as it is ending and this is what the newspaper selling media wont care to tell you. There is 600 billion dollars that has been pumped into the economy that will soon show in profits that will eventually hit retail markets giving job and economical growth with or without QE3.
I also think next announcement on deep drilling will launch us back to the teens as there is minimal downside from here .
Regards
AVB Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
