I'd relax radwimps, Alcoa does make the dow, and the dow dont serve china like we do. Retail Quarterlies turning the corner will be the more important dow driver. Either way, I think the decoupling is becoming more evident, as resources prices keep going up, including gas of course to feed the most severe northern winter in decades.
Look at the one year or two yeas asx aords chart, we are just coming out of the oct/nov correction into a next leg up, and we have been severly up the last few weeks, so a pullback is healthy. Might be choppy for a while during earnings season, but the trend is looking to be the next leg up.
as for MEL, I think if we have a price sensitive ANN with a formal reserve upgrade, the market will take more interest. dont forget we're still up 15% in two weeks.
MEL Price at posting:
69.0¢ Sentiment: Buy Disclosure: Held
