timeline of activity, page-64

I think GSE is pretty close, please be patient and stick with the suggested trailing stop loss (12c).

The problem with NWS is the strengthening $au. So even though in the US it has broken new highs, it will continue to slide here whilst our dollar is appreciating against the US dollar, especially sharp appreciations.

You can either abandon the remaining position altogether on a bit of a rally, or, as the SP weakens, get a lower exercise, longer dated instrument, and then sell the shorter dated instrument into any rally. This allows you to maintain your investment in the share without losing any money because you are buying and selling in the same weak market. NWSWZD is well priced ($32 ex price at 26 July) to get the value of NWS's addition to the ASX 200.

The share price is increasing, just not here in Australia. It would only take stabilisation in the $US for the appreciation in NWS to start flowing onto the Australian share price. I'm just not sure when this will occur. I'm pretty sure the $au will start to hit psychological barriers soon and will stop its upward march, maybe sometime mid May.

Keep an eye on the NWS share price in the US using the bloomberg site or something similar each night. It looks as though it is going to have a fairly significant upside breakout in the next week or so, or else drift back from the highs, which would be diabolical. The more likely scenario given current US sentiment is for an upside breakout.