So far in the space of 24 hours two of my predictions have...

So far in the space of 24 hours two of my predictions have become partially true. Commodities are getting trashed and the A$ has started a reversal.

I expect the third to come true by about the anniversary of Rudd's political death as the Canberra press gallery will prize themselves from their bar stools on the orders of the editors to do pieces on how Jooolya has gone in her first 12 months. Even Fairfax and the ABC won't be able to put her performance in a good light. Jeezus, the Marriqville council has achived more (Osama should have hidden there not Pakistan).

Outcome of all this? Intelligent shorters will begin to cover positions on any big falls creating a base around the 1.50 to 1.60 mark is my prediction. Expect some bigger swings. Bargain hunters will be searching as they don't like the banks and BHP has just cost them a bundle.