Forum Archive Index - February 2000

[Mark Hutton <mrkhutton@netscape.net>]

Ben,
Ben,
I think you really hit the nail on the head when you said "Now the NZSE hasn't
really followed many of the Nasdaq's gains this week".
Last Monday, our markets opened with the news that the Nasdaq had hit another
all-time high when it closed for the weekend.
Did ITC benefit from this upsurge? Far from it! On the contrary, it fell two
cents to 76c.
Maybe, seeing the Nasdaq slumped 2% yesterday and the profit-takers were
wading in on Wall Street, things might again be the opposite in New Zealand
tomorrow with ITC pushing up.
Somehow though, I think that 80c appears to be the resistance point here in
New Zealand, and unless there is some major investment announcement by the
company, I do not believe an 80c+ price will be a happening thing. Just my
views.
Cheers,

Mark

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