Mike I would dispute your statements. Like you, I'm also hoping...

Mike I would dispute your statements. Like you, I'm also hoping aax is beaten down even more, if you remember I've been part of this forum for a while now. I love the runs on aax and its so volatile.

At the moment, aax is being beaten down for reasons you state, and it should fall to 3.20-3.26. Anything below this will be a breach and may take a considerable amount of time to rebound to the next level of around 4.01.

However, company outlook and fundamentals are still strong. AAX has, even in the absense of contract wins, been trading between 4-4.49. The price has been smashed due to paradice selling its stake, and also uncertainty regarding the rspt. I firmly believe that investors are misguided by what the rspt is about, and whilst I don't believe it will be passed, it may be revised to include a tax threshold revised from 6% to 10%, the petroleum industry allows 11%. This in a sense, takes tax rates on mining profits back to 2006 levels. If you guys want to do some research on the rspt, just go to google and type in 'rspt explained' there is a commonwealth document on the rspt and also some good info on smh and theaustralian websites.

The euro crisis is starting to show the second bounce in the recovery, like all predicted the W recovery last year. We may see a breach of the 4000 level on the all ords. AAX however, is and will be even better for bargain purchasing.

B-Machine.