tuesday , page-54

Hi all,

I am still in the bull camp and see matt's support at 4600ish.
Failing that there is plenty more at 4500ish and if it goes down there the buyers will surely come out of the woodwork.
I reckon I will.
We have weekly dynamic lows at the 4600 and monthly 50% at the 4500. This level is also supported by numerous tests of price. A break below 4500 would be bearish to me but until then, this pull back represents a buying opportunity.
Think back to xjo 6800's in 2007. Here we are 3 years later still down over 30%. Our economy has without a doubt grown during this time but i guess the question is this. We were over priced back in 07 but how much? Are we under priced now or at fair value?
We don't have and never got to 10% unemployment. Our interest rates never got anywhere near 0% and given the extremely high bank margins have been back to neutral levels for some time.
Some would argue our property market is overpriced and needs to correct but demand remains high and will probably remain so. I see no reason for a major fall in our market, apart from US and Euro drag. Why we are still so tied to the US markets I don't really get anymore.
My 2 cents again

H