revisions to profit will follow, page-8

well - last time I checked we had our own economy, and stock market. That just happens to be one of the best placed in the world to capitalise on a 15+ year expansion in the world's largest, and second largest population that will pump trillions of $ into our majors in the near future.

The fact is, the news is coming next week - perfectly timed. News from majors in Australia is going to be good - perhaps fantastic. That is the reality of a booming economy - the majors will benefit. Stocks got to where they were a week or so ago because experts predicted that the numbers will support higher prices this season. What's changed? A bunch of over reaction that has misinterpreted losses in MBL which will not even effect their bottom line, a fair deal of automated selling, and probably a whole lot of margin calls forcing people to sell at 2006 prices to keep their portfolios alive.

As the official start to the reporting season begins next week, this could well be one of the shortest corrections ever, and therefore one of the best short term buying opportunities.

DYOR