Has provided some amazing firepower to FAX. Almost 3MM shares traded yesterday, 3-4 times normal volume. Some 100k upticks are still very good signs that big money is still buying.
Certainly the AUD has been somewhat stronger, but if my memory serves me the AUD was in the $.64-$.65 area in the Fall too for a short while. The NAV too up till recently has been relatively quiet. The discount is narrowing and with the fixed dividend policy.
Also FAX Asia debt component has been a real added winner. They took the risk last summer and it's paid off as many of us thought it would. Lucky for us.
With Oil hitting new highs,etc., we might be seeing the first leg up of strenghting in commodity prices. I too am a believer that we won't see any real substainable commodity inflation for an extented time due to productivity gains and high unemployment still in many 3rd World areas.
I tell you though if this thing hits $7 in the next week I might trade some out and buy back later. But it's still short term for me so you have to expect to buy it back at a lower price that includes the added tax burden. Sometimes it's not worth the chance, but one point in a few weeks since a little strong, short term any way.......but as a friend always tells me the best thing is probably go lie down till the feeling goes away...not bad advice.