My reticence centred on your suggestion that we would see 33...

My reticence centred on your suggestion that we would see 33 cents *today* and whilst the market will always hold surprises, I'm not holding my breath.

As for 33 cents "in time" - well, time really seems to be the one thing that buyers don't have much of. Which is why I made the mention of my conservative nature - frankly, I wouldn't have the guts to by-pass 35.5 in preference for 33 - but I carry a financial yellow streak a mile wide!

My reckoning is that the only way the SP will go much further south is if NXS fail on July delivery from Longtom. But as long as there is no reason to doubt that forecast then I would expect to see the SP firm through July rather than weaken.

In respects of yesterday's 1 mill seller, I'll only say that we all know there's lots of variables that impact on a single seller's actions and it would be folly to take this as significant for the SP without knowing anything more than that one person sold at 35.5c.

I'm looking forward to what the day's trading will bring.