If Glencore was buying, substantial notices would have been coming out. But they havent. For a while now. Directors notices have, but not Glencore. Therefore I put 2 and 2 together and believe they either cant buy anymore or dont want anymore at this point.
You are right, Ausssie dollar falling is better for earnings. But a strengthening US dollar is bad for commodity prices (unless you hadnt noticed the inverse relationship over the last 9 weeks). So I wouldnt rely on a weak Aussie to boost earnings too much. It helps but it is also offset by the falling price of nickel.
All my points are from a fundamental basis. Never looked at a chart and probably never will and to me tweezers are something found at the bottom of my toilet bag.
MRE has been ok to trade the last few days but I'd hardly call it one of the best places to have your money yesterday and today. Besides, what does that even matter? For 10 minutes yesterday MQG was the best place to have your cash!
I'm talking about the outlook for the medium term.
MRE Price at posting:
60.2¢ Sentiment: Sell Disclosure: Not Held
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