Mining shares have made fortunes for many in the Philippines. They're a tricky bunch, though.
Back in 2008, the "Bearbull" Ron Nathan noted that this is likely the going to be the sunrise industry.
Well, unfortunately, the U.S. economy had something else in mind. The world's largest consumer market slowed. Manufacturing in China followed suit and minerals were less in demand.
Between now and then, there were also a host of local problems that got in the way of mining's glory days.
Since then, though, I have not forgotten what the insightful Ron Nathan pointed out. Our vast natural resources have hardly been tapped. I think its still only a matter of time.
At the moment, mining stocks are trending down. We may be seeing some good opportunities to buy in.
PX is nearing its 52 week low of Php18.26/sh.
I have always liked this company because it requires the least speculation. By that I mean they actually export minerals as opposed to other listed mining firms that aren't even operational.
I'll be keeping an eye on PX. I'll start purchasing it when it goes below Php15.00/sh.
abundant information: globalization's irony
In this day and age, we see ironic things like a stock trader in the United States worried about pigs being stolen in China. There was "pignapping" in China, Kosovo declared its independence and the U.S. government is working on putting more money in the pockets of overspending Americans. News like this and more is readily available via the internet. Sometimes the funniest headline can be considered as a relevant concern for a trader. Take for example the "pignapping." Silly as it seems, the surrounding circumstances of the devastating winter in China and the falling supplies of pork can cause concern. The chinese are known to have a ravenous appetite for pork, some even use it synonymously with the general word, "meat". Depserate acts like a pignapping can give us an idea of how bad its getting and contribute to other factors to justify a conclusion that inflation in China is getting to be a real problem.
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