M12 I also agree that 1.97 was not going to hold as I was still...

M12 I also agree that 1.97 was not going to hold as I was still amazed how a +200 in the DJIA last night end up giving it all back by days end. I’m not really worried about GPT as I’m holding medium-long term and certain fluctuations is understandable given the current volatility of all major markets.

IMO commodities will continue to get smash, and eventually we will see a mass exodus in miners and with their capital reinvest in the property and financial sector. Rate cuts will continue, Goldman Sachs and most analysts are predicting IR will fall to 6% by end of FY09. GPT has a dividend yield of 11% and combine this will capital appreciation I would assume GPT is a relatively risk-adverse investment with strong growth potential.

Huntley revised MGR today to accumulate up to $2.80 and reduce at $4.10, given that GPT is quiet similar to MGR we should see a similar re-rating. Honestly I don’t trust Huntley anymore, but my instinct tells me that GPT will come up with the goods. Plenty of news to come this month e.g. DRP pricing, expression of interest in their hotel portfolio and in October month with a possible IR cut and expression of interest of their resort portfolio. Out of the G7 the OECD expects US to be the best performer.

GL all.