I get the impression DOM bottomed at $2.54 on Thursday 25 Feb...

I get the impression DOM bottomed at $2.54 on Thursday 25 Feb 2010. Assuming the majority of capital works are now complete and production gradually picks up to 10,000k per month then unless the AUD gold price starts to tank I can see no more reasons for any further downside.

Today's close was $2.94 which is a rise of $0.40 (16%) from the low on 25 Feb. The SP cut up through the 20 day moving average on on Wednesday this week. Volumes have been moderate.

The SP chart is now reflecting the new market acceptance that DOM has turned things around on the ground and a business revovery is well underway. Given this we should see SP up again next week with $3.20 a possibility. If it recovers too much too quickly then I can see a case for the shorts comming back in, but until that happens they run the risk of getting seriously singed

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