HI I know these charts are a bit crappy but even though ,if you look at the correlation between the ASX DOW S&P etc I would suspect that our market is grossly overvalued . Usually ASX is quite conservative to the DOW but we are over by about 10% above , all of this re BHP and RIO ! I have no doubt that the DOW will bust 11000 but not before xmas and if there is a pullback we may go down a lot further if there is any comparative rationalization . Just my thoughts ,read the red stuff below Baxter http://finance.yahoo.com/q/bc?s=%5EAORD&t=1y&l=on&z=m&q=l&c=ftse100,%5EGSPC,%5EIXIC,%5EDJI/q/bc?s=%5EAORD,ftse100,%5EGSPC,%5EIXIC,%5EDJI
DOW Price at posting:
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