Well for my two cents worth the stock has simply broken out to the upside, if we can keep putting on gains like this throughout a DOW retrace then that would be incredibly bullish when the market turns up again. Expect a small pullback later this week in my opinion
Even if a stock is news driven there is nearly always are drag on it (or subdued gains) on a DOW retrace
I cant see the DOW reaching new highs after tonight, but if it does it cant be much more. Anything is possible though, look at how much our market is currently lagging the US. you would think we were the ones with an employment problem.
I havent looked into it, but I think it may be our banks following a weak lead from the US which is dragging us down (comments anyone?)
BGD Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
