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.

Comments

Post a Comment

Popular posts from this blog

hollywoodish headlines eclipse trading; foreign interest in RP stocks wanes -businessworld

Hollywood-ish news News of what happened to the Senate's witness on the NBN deal is dominating the clicks on inquirer.net . The Inquirer's front page told of a story that I think belongs in fiction. Lozada was intercepted at the airport even before he made it through the tube, taken by men and made to sign documents saying it wasn't an abduction. His hearing started around 10am today, and I've been following along through inquirer.net's running account . Another sluggish trading day The total trade value today was slightly less than yesterday, being just below the Php1.2 billion mark. Modest gains left the market at around 3241, up by about 17 points from yesterday. Waning interestin RP stocks Business world's headline for today says that: "Interest in RP stocks wanes" . The article highlighted some important statistics. "THE STOCK MARKET got off to a shaky start this year, with net foreign selling hitting a record P11.59 billion as foreign invest...
Read more

where are the bulls?

The market may be bad, but I slept like a baby last night. I woke up every hour and cried. The PSEi went up on May 7, 2008 by 11.73 points. Value turnover was at a respectable level of Php4B. Looks good, but not good enough, I think. The fresh wind of hope from the U.S. economy didn't make it here until today as shown by the Philippine Stock Exchange Index. The rice shortage or at least the perception of a shortage along with inflation going through the roof are factors that weigh down on local investor sentiment. Corporate earnings are largely within expectation but maybe market is already priced into better corporate performance since it had little effect on our stock prices.
Read more

breaking the index's fall

"Be greedy when everyone is fearful, be fearful when everyone is greedy?" -Warren Buffet When will our market's main index break its medium term downtrend and find that foothold? With such bright and sunny skies over our local private sector, why are we so fearul? News...what news? All the good corporate news last week was not sufficient to have any significant upward impact on our market. On the contrary, we saw incredibly thin trading last week for successive trade days. The gloom and doom that has taken over global markets seems to scream louder than our local news of continuously increasing corporate profits. Technical Opinions Tsupitero says the level to watch out for is 3170. Any break below this points to only one of two things, a retest of the previous low of 2950 or worse, the establishment of a newer low. Other technicals are telling investors to watch for a successful retest of the last support level, which I'm assuming to be 3170. Support retest seems to b...
Read more