Hate to be the bearer of bad news, but just spoke to my broker and he reckons there will be a few sell orders this morning and very little in the way of buyers showing up. We will, without doubt, be testing long term lows and we will see how motivated the sellers are. We are getting closer to the point of capitulation, where trading will reflect no logic whatsoever, just despair.
To make matters worse, we will have the short-brigade of asb and co giving us an ear full of "I told you so" and "short, short, short" which will make today's viewing of HC an absolute cr@p fest.
Best to look away for the day and perhaps go for a round of golf. That's what I will be doing.
GLTA - we are gonna need it over the next few trading sessions.
GXY Price at posting:
$1.20 Sentiment: None Disclosure: Held