Can we shrug off Safeguard Mechanism?.Yes BAS gained half cent...

Can we shrug off Safeguard Mechanism?
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Yes BAS gained half cent to finish on 12c. Our volume was on the lower side, just over 1.8m shares traded. We started on 11.5 and finished at 12 - so a very narrow trading range today.
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We got Safeguard Mechanism deal between Green/Labour yesterday. Lot of noise to make political mileage out of it. But many know that you cannot kill something if you don't have alternative. There is a good chance practical considerations would be made. And it looks like Govt understands that - hence the comment by Greens that the minister is acting as Head of Corporation of Gas and Oil. There was some uncertainity yesterday but things seem to be coming back today. Santos gained over 3%, Beach nearly 8%, Woodside nearly 5% - so its clear the initial scare has been shrugged off for now. Also many believe that Coal Seam gas has lower Carbon print and so should affect us less, if at all (though I am no expert, so please check for yourself)

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Today's trading again looked drab with no clear direction. Both buyers and sellers tentative at this stage. I think buyers are not stepping up as they feel the sellers are still lurking. So may be a waiting game to see if their power has diminished. But it was good to see not to give away 11.5 today and managing to finish in green as well.
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So what will happen tomorrow? Its difficult to say as there is no strong direction. If we have to go up, then we need good volume. There is a chance that buyers may draw sellers to sell lower and then make a move. But our friends, the big traders, are missing in action. We will also need them to assist in our journey. Looks like a slow grind but history says that some BAS can just explode some days. It would be good to get one of those days and move towards 15 at least in short term. Will that happen? Let's hope so. All the best.