At this point, the Australian equity market has stabilised, and the A$/US$ exchange rate has retreated from the 80 cent level reached early in the year. Market concerns of rapidly rising interest rates in Australia have abated, although there is growing expectation for higher US rates. However, it has become more difficult to find good value stocks, so investors need to be selective, and consider profit taking opportunities.
Sandy,
Sorry to hear you sold LEG shares, however at the time postings on LEG was just as bad as OXR. Many people were fed up with hearing LEG 24/7. Buy some shares in OXR and you can join the OX team and you will also be rewarded when the OX hits $1.05..
Cheers..
OXR
oxiana limited
