Reckon it'll fly for at least a week now that the world isn't falling off a cliff (again). In fact, the world is about to have a massive relief rally.
We have 1trillion in aid for the bankrupt in EU
We have a possible tax cut or some other type of bribe about to be handed out in the Aust. budget, and flow through to the markets.
We have oil up over 4% at the moment, and probably be up 10% in 24hrs.
There will probably be a government in the UK soon.
The stoxx 50 index is up almost 8% as I write this. Yes.. 8%!!
Importantly, this time, ADI wasn't treated like a minnow junior explorer worth 5 or so cents like the last time the world was falling off a cliff. I think the performance of the share this during this panic really speaks for itself, and I know a whole lot more juniors that got absolutely hammered over the last few days. Well done if you bought the dips and topped up. Almost got the institutional prices. Wonder how many people that criticized that cap raising actually put their money down at .26??
Onwards and upwards from here, let the story emerge while the markets rally.
ADI Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held