re: interesting chart ... take two Hmmm... ADR (NWS) bolted 5.5% last night as the Market sensibility returned and as investors realised "...the sudden reversal is no doubt simple 'knee jerk' by fundy jerks and the odd SHORTER who finally 'jagged' one followed just as quickly by the pack which gave the reversal some legs."
The Market here Monday is expected to play catch up.
An interesting factor is the effect the exchange rate is having on NCP pricing. Overnight the exchange rate move higher to $0.605200.
This equates to ADR (NWS) $26.85 at ratio 1:4 by $0.605200 = $11.10.
The surge in exchange rate is recent times and comparision from say the benchmark of $0.55 would see NCP pricing at $12.20 ... a considerable (10%) difference.
This won't improve in real terms as the tanking of the US dollar is one deliberate element of the Bush basket of economic initiatives.
The overnight action succeeds in supporting the view and chart above as interesting developments of a good trading stock.
Onya Rupert ...
Cheers ... tight stops.
This is only my view ... read the red stuff.
re: interesting chart ... take two Hmmm... ADR (NWS) bolted 5.5%...
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