Hi Arthur, AGL trading in a narrow range with next resistence...

Hi Arthur, AGL trading in a narrow range with next resistence around $10.28 and support at $9.98.

AGL have ann'd a further 25% price hike for summer making a complete lie of previous Premier Olsen's guarantee that energy costs would be cheaper (already up 15%) if ETSA privatised.

One day Oz might get the idea that essential infrastructure such as energy/telecommunications/etc need to be protected and prices regulated to cost not the spot market which is open to abuse and manipulation by corporate vultures.

The US energy experience and debacle that led to collapse of Enron etc is a lesson that needs to be heeded by Govt agencies who having already privatised their own intellectual capital, now vulnerable to a plethora of "Pied Piper Consultants".

We now have the ludicrous situation where the Federal Govt has become so divorced from actual participation in anything at all that it plans to extinguish all debt and close down the Bond market.

Cheers ...



This is only my view ... read the red stuff.