Will be interesting to see what happens to the asx over the next few weeks. US market looks in trouble and is overdue for a 10 to 20 percent correction could be more once it gets going… But over there valuations are crazy…too many tech companies that are loss making on their indicies. On the asx valuations of our commodity companies are very modest even though we have had a surge in most commodity prices. Hopefully we see a rotation into value rather than the bloodbath that looks to be unfolding over there. Asx seems to follow th US even though our companies are completely different. Asx is 50 to 60 percent commodity and banks that actually make money in most circumstances
RRL Price at posting:
$1.75 Sentiment: Hold Disclosure: Held
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