should help, page-4

- AUD getting stronger 93.11 this morning, which reduces profits for producers

You know, or course you are absolutely correct.

But the market being the market, likes everything rising, including the $A. It does not make sense, but it is a fact that we have to live with.

I remember when the $A was around 50 cents. All the comentators said then that the country would go to the dogs if the $A rose to 60, or God forbid, 70 cents.

Sentiment, and all sorts of intangibles affect share prices more than fundamentals. That's why university degrees and such do not guarantee market success. Some of our phenomenal traders have made millions despite their lack of formal qualifications.

Charles Viertel is one who comes to mind. An interesting Australian story from the 70s.

I learnt a long time ago that its not luck, its pure and simple hard work. Study the market's nuinsances and the money will follow.