Oh, I think quite the opposite . It's been quite entertaining this morning watching the massive pre-open duel happening between Bears (shorters) and Bulls (optimistic long-uns). On CommSec, SP has been as low as -15%. At -6.5% ($1.64) a few minutes ago, and now at -8.3% ($1.61).
On a more serious note, if the SP doesn't hold above $1.70 today, I reckon $1.50 is on the cards before it finally settles. Maybe even back to the 12-month low of $1.43. Please note, I'm not a down-ramper (I'm holding two solid parcels long), just calling what I'm seeing in the charts.
GW
GXY Price at posting:
$1.76 Sentiment: Hold Disclosure: Held
. It's been quite entertaining this morning watching the massive pre-open duel happening between Bears (shorters) and Bulls (optimistic long-uns). On CommSec, SP has been as low as -15%. At -6.5% ($1.64) a few minutes ago, and now at -8.3% ($1.61).
