Thanks Raeban. Exactly right nbbrich. One lesson I took from the GFC is governments will do as much as they can to prevent a global meltdown of the financial system. Yes Greece may default on its debts, but when Argentina did, which is probably a larger economy than Greece, did the world melt down? No, it moves on.
Our market has dropped just on 10% from its April peak. It may well drop further - maybe below 4400, and possibly even 4100 if/when Greece defaults. But that's 15% correction territory, so thats a buying opportunity rather than global meltdown scenario.
In any case, the world will continue to need steel, coal and other commodities, but of course the most prized of all is oil and always will be - and thats what we are pumping out of the ground. So there is only one way for SSN's SP to go in the long term as long as it proves what its got at bakken and niobrara.
CHeers, Sharks.
SSN Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
