Richard,
Always loved that song, now I know the rules<G>. Did you see the big sell off in ABX? Somebody really believes the rule buy on the rumour sell on the news, but I think they should get a new rule book this time. I was watching PAASF today, right after it got away from me that is. I was hoping for the sell on the news thing to knock it back and it did but not even long enough to get a limit order in at 5 5/8, had to settle for 5 3/4 -7/8. Little downside on that one I think. ABX was getting duked at the same time, orders B-A were 1 to 500 at one point, then it too started turning around.
Frankly, I see nothing negative in the 1/4 pt cut for metals and think they were just reacting to that sell on the news thingy. After all, we are so used to getting burned with these stocks aren't we!
Any other opinions welcome, sure hope I'm right. BTW, noticed oil had the same reaction only it was selling down before the news, last I saw was bouncing back.
Roebear |
