Nothing unusual imho. We stood as well as OZL today, despite them releasing a stellar QR. If you compare the OZL and the PNA chart for the past 3 months we're having the same sort of swings pretty much in tandem. The main difference is that for OZL the 9 year old has his ruler horizontal, and for PNA on a respectable incline up.
We went to the top of the channel, now we're at the bottom (not that I believe the fundamentals are likely to support the channel much longer - but then the poc has continued to surprise me on the upside since the mid 2's).
poc pretty close to post GFC highs in USD (and even more so in EUR), and the AUD dropping back, a great combo for us.
EL
PNA Price at posting:
$2.85 Sentiment: LT Buy Disclosure: Held
