new dawn?, page-2

AUD increased by 2c from about 94c to 96c in 1 hour at 6am this morning. seems to be holding the increase presumably due to dow rally at the end of US trading.

The problems have not disappeared. It could be a dead cat bounce - who knows.

I agree that the shorts may scramble for shares, just in case the cat is not dead. They will get some help from their brokers who may try to sit in the sell queue 1 or 2 cents higher than the trading price and abandon the position if the price rises. AH such a cynical bastard.

Also expect some sellers to dump on first opportunity to get out = early rise followed by fall before it settles. It will be an interesting day for AGO as more people begin to realise the Fe price has held up while other commodities have been hit.

It should be a good day to do some short trades.