You don't have to be Einstein to understand when the dow goes down 142 points overnight and other indicators aren't looking fantastic plus the need for further clarification from DERM on the matter we're all waiting on, this doesn't exactly set things up for a fantastic sp. Having said this, it doesn't mean cnx is doomed for eternity either! The Qld Government is copping a hammering on this and it's obvious they're not wanting to make any quick decisions. I feel they're trying to have their cake and eat but you know the old saying, you're not going to please everyone.
One would have to think after such a long sager we should have an annoucement very soon, which should hopefully be the final peice to the puzzle.
I'm sure most would agree the sp won't start to move south until this is all positively laid to rest (DERM), only then will we see some strengthening and further strengthening once the 2nd panel is up and running, fueling the generators successfully. I'd go so far as to say, even if we get other good news before this is sorted, any sp gains as a result of this would only be short lived imo, so it's imperitive this is sorted 100% beofore further good news, only then will it be enduring because the news won't be trying to underpin uncertainty.
CNX Price at posting:
37.9¢ Sentiment: LT Buy Disclosure: Held