LYSCF at $US0.60 converts to $A0.575. This was the last price prior to the auction when the funds balancing pushed it up to $A0.60. The US close is basically what we 'should' have closed at on Friday, nothing unusual there. I'd expect a lack of support over the next 2-4 weeks while volumes are low in general particularly if the US 'Fiscal cliff' scenarios play out badly. Maybe $0.47 does get hit. This time last year we had a high in Dec of $1.37 moving DOWN to $1.03 over the Dec. period. However 2010 Dec showed a low of $1.45 and moving UP to $2.05 over the same period. With no external shocks it's possible the price moves up but unlikely without serious buying pressure coming in.
Over $1, they were the good old days!!
LYC Price at posting:
60.0¢ Sentiment: Hold Disclosure: Held
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