another black friday, page-5

Although predictably pdn's s/p continued its general trend south, generally inline with the All Ords, it did, nonetheless hold better than I expected last night.

When I made my Friday call on pdn, the Dow was in free fall last night. That changed around with about 30 minutes of trading before close. Having said that, it is a bit of a worry that the asx continues to fall at a percentage rate higher than the Dow, but we are coming off a greater rise in the index over the past 12 or so months, mostly driven by the resources boom.

Anyway, what about pdn's share price next week in general and Monday in particular?

I am predicting pdn's will continue to fall somewhat in line with continued weekness in the All Ords.

Monday will be another down day for pdn with a low around $5.00 to close $5.10.

I feel a drop by the end of next week of around 15 percent from todays close, which brings us a figure of $4.67.

By the end of the month I feel low $4.00.