thursday, page-51

For what it worth, this is what I am seeing. Starting in early November, our market done stuff all and been lagging to other markets and that was when our $A was above parity and a near high of 1.02. Around then I believe overseas investors are selling out of our market to capitalise in currency appreciation.

Now with the pull back of the $A to just above 95c, I believe the buying of stocks starting yesterday afternoon and gang busting today without any pause despite weak retails sale number, suggest to me that overseas investors are happy to jump back in and take advantage of $A recovery.

So, watch out for the road trains and don't step in front of it. Of course, it no mean we're out of the wood yet and grab & run with less bearishness until NFP for me.

Good luck.

PS, the above bolony is from Budgie and not me.