there is a flipside to that coin, brent is at 105! now,,,,POG AUD hardly changed three days but still off for the QTR,,,margins getting squeezed, AUD off so heavily would expect foreign flash traders to bail, Gold price looking for a test on the downside, extreme move with futures expiry today, brokers to clean up as investors and traders get nailed imo across quite a few stocks,
if gold keeps easing,,,margins are going even lower unlike debt repayments which remain static, therefore expect equity price to fall
Rating agencies are certainly dragging their heels, they said if margins were squeezed or the company saw further price falls in gold it would be rerated,,,and we are not at 1610usd any more....its only JUST investment grade,,,if that is lowered I cant see the SP being at 10...
Looks like we have gone all the way from boom with the bust beginning....might have to change the name of the ride,,,from "enron ride of broken dreams to NCM ride of broken dreams..
NCM Price at posting:
$11.15 Sentiment: Sell Disclosure: Held
