I like your faith.It will get to $8It will even get to $10The...

I like your faith.

It will get to $8

It will even get to $10

The very big question is when?

My take on pdn is that it will retrace below $5.99 short term. Could go as low as $5.50.

Until the market settles, pdn will continue to be volatile. I do not see the market turning upward for any consolidated run until at least October and will peek in my view in January before more volatility in February.

There is I fear going to be a lot more fear on the Dow particually when the full picture is known regarding the subprime crisis, however once the market is satisfied that the full picture is known, the Dow and in turn the All Ords will track north again with those who have copped it the worse of late being the big gainers.

I feel sure that toward the end of the year, the sub prime problem will be well and truely behind us and will be just a far off memory.

September has often been a down month for the Dow. Don't forget that this coming October will see the anniversry of when the Dow plunged over 500 points in one day, which in 1987 was a huge drop indeed. So there may be some nervous nellies around this date.

pdn will, in time, resume its treck north.

The question is when and by how much.