Looking at the extended forecast for Narrabri, and it looks like all next week will be rain free with very hot temperatures expected.
I understand that the coring will recommence on Monday. Lets hope that production can continue earlier than the anticipated end of Jan.
It seems that Friday's sell off was a bit of a overeaction. Evidenced by the sp's strong bounce off the days low of 87. Which just happened to be the 50% fib retrace.
Despite the Dow's sell off on Friday I would expect the SP to lift as January draws to a close. Especially as Ian Kirkham has told us that the reserve certifiers are going over the submitted figures and the upgrade is expected toward the end of the month or early Feb. (According to the phonecall that Backsheesh had with them Post: 4915535)
Funny the sell off, because that news was old, in that the rain was from the New Year period, and the SP had likely already reacted in when it dropped from 1.00 to 91.5. Looks like those who jumped ship on Friday should have been buying instead. I suppose time will tell.
Cheers
ESG Price at posting:
89.0¢ Sentiment: Buy Disclosure: Held
