john435, After all the doom and gloom last week who knows what...

john435,
After all the doom and gloom last week who knows what the Greeks will come up with next but Reuters reckon we're gonna be boosted at open on Monday.

Reuters:

"SYDNEY, May 13 AAP - Australian stocks are expected to open firmer as market players take their cues from Chinese government moves to ease banking requirements in response to weak data.

AMP Capital chief economist Shane Oliver said the decision by China's central bank to lower the amount of cash banks in that country must hold as reserves would be a positive for the Australian market.

The 50 basis point reduction in the banks reserve requirement ratio, announced
on Saturday (AEST), was the third cut in six months and prompted by Chinese data
published on Friday that showed slower industrial production and retail sales
growth in April.

The move would free up money for Chinese banks to lend out, supporting continued
growth in one of Australia's key trading partners.

"That should provide a bit of a boost for our market on Monday," Dr Oliver said on Sunday.

"I wouldn't be surprised if we were up 10 or 20 points despite the flat lead in
from Wall Street." "

Let's see how the market goes on Monday. The slight change in the day candlestick on Friday at close with this news on China may well see a rebound on Monday IMO.

GL all