no demand driving prices down, page-16

Hi Kacy

Since the start of 2009 the HIS, SSE & STI have rallied from 85% to ~100% from their lows. IMO it's fair to expect profit-taking etc at the 100% level - as per Mr Gann. IMO their recent retraces are far from cataclysmic or a significant reversal into a double dip recession.

http://finance.yahoo.com/echarts?s=000001.SS#symbol=000001.SS;range=1d

By way of contrast our boarse rallied from 3090.8 to 4506.5 [approx 45.8% since March 10]. As per Fibonacci & Mr Gann again therein lies a key level of resistance / profit-taking / shorters rallying point.

IMO for The Market to move upwards from here some economic afterburners need to start kicking in - perhaps as per today's WA Gas announcement & recent improvement in US economic indicators as well as IMF proclamations that the GFC is done & dusted & MOST IMPORTANTLY Stephen Long developing doubts amidst his ever-expanding global sea of economic uncertainty [lol].

Cheers,

Lapdog