tomorrows action, page-6

Hi Christals,

1)You say: "Where are you getting your currency conversion rates from? There appears to be little if any differentials between $CAN and $AUD."

I use Azforex. The AU$ has weakened considerably overnight against the CAN$. Check http://www.ozforex.com.au/cgi-bin/currency-converter.asp# and look at the graph. I posted yesterday so used yesterday's rates. Today's rate is:

10,000.00 Canadian Dollars = 9,964.00 Australian Dollars
1 CAD = 0.9964 AUD 1 AUD = 1.0036 CAD
Mid Market Rates? Last Updated: 04/01/2011 @ 15:10 (Syd)

2)You say: "up to 4 days ago you didnt even know how to look up Moly on the TSX, so how can you say they dont look at the ASX."

I have been invested in MOL since June 2008 bought at $3.02 and have added to the investment in June 2009 at 53c and since then have bought at 85c and $1.07. Now that I can no longer afford to invest any more I have created a trading parcel. This is why I haven't been interested in the TSX price before now.
My statement that Canadians don't look at the ASX is based on the last two closes where the prices have not correlated.
I know this is not a sufficiently large sample to have drawn that conclusion. As you have been watching TSX longer than me I'm happy and appreciate your observations.

3) I am aware of China's policy on export of Molybdenum. I know that export quotas reduced exports in 2007 and 2008 but the reduced export at the end of last year and now is due to an increase in demand rather than a reduction in export quotas.

U.S. prices for canned molybdic oxide have gotten a boot from increased demand from the stainless steel and seamless pipe industries, along with lower exports from China.

Prices have increased to between $15.80 and $16.25 per pound from $14.90 to $15.50 per pound previously. Prices have risen steadily from a range...

See http://www.metalbulletin.com/Article/2715493/AMM-Molybdenum-prices-gain-ground-on-China-export-lull-rise-in-demand.html