One day is not so important anyway DB, as you have pointed out before. The trend since the start of July until now is still down.
The positive sentiment comming from around the globe the last couple of days is much more important. Are we starting to see the light at the end of the tunnel in regard to the GFC?
A number of countries are now revising down their forcasted fall in GDP etc.
The Fed now predicts that the US economy will shrink by between 1% and 1.5% this year. The forecast issued in May projected it would contract by between 1.3% and 2%.
And for 2010, it forecast that the economy would grow by between 2.1% and 3.3% - a slight upgrade from its earlier prediction of forecast of growth between 2% and 3%.
Lets hope for a strong performance from PNA today, no gaps please.
PNA Price at posting:
33.0¢ Sentiment: LT Buy Disclosure: Held
