Following the recent trading in BND I am not really sure where this is headed in the short term.
There was plenty of buying pressure up until this week and it seemed to be heading back to a reasonable price in line with the real value of the company (a value without market specualation and fear involvement). This week though, the buying pressure has appeared to dwindle and then yesterday was the big drop in the SP. It would be fair to say that we could expect yesterdays losses to be recovered today if the Dow Jones traded well overnight ... and it did. But, we have only seen the BND sp lift 1c to 74c.
Maybe we need a positive announcement regarding a joint venture in the Bowen Basin before it kicks upward again. What are your thoughts?
BND Price at posting:
74.5¢ Sentiment: Buy Disclosure: Held
