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I feel it was a rally that was caused by the market been oversold short term a technical rally if you like, rather than a rally caused by Greenie

Yes - you're probably right - Greenie's rate cuts take around six months to take effect so the latest cuts haven't taken effect yet. However, there is a wall of money about to be dumped on the market some time in the new year - this will cause prices to move upward but the problem is that the US economy is still going downhill. The latest prediction is a turnround sometime in 2H02.

Not so my friend the US has big reserves of coal & gas & iron ore & gold to mention a few of the natural resources, lets not forget that they are also major beef,sheep & agriculture producers

Yes they have - but they still import 30% of their energy needs and the cost of energy will continue to go up. Japan around thirty years ago used three barrels of oil per head of population whereas today they use ninety per head (think that's right - it's the last figure I read).
When you consider developing countries such as China, India etc the energy demands will be enormous - and the US will be in competition to get its supply. Coal is under fire because of greenhouse gases and its use I believe will be more and more restricted. The US gold reserves that are easily mined are played out and only the hard stuff is still available but at prohibitive cost in extraction. Australia is in the lucky position of being nearly self sufficient in energy with new discoveries all the time. Time will work in favour of Australia with the WTO breaking down trade barriers and newly industrialised countries demanding more raw materials for their own economies.

Interesting subject JR - can lead to plenty of discussion.
Thanks for your ION input - looks like a long term buy based on its fundamentals - if it keeps going at this rate it will be a winner.

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