In This Issue
The pain in resources stocks continues with gold not helping
For those of you who thought we must be near the bottom, you might need to think again. Last week it went from bad to worse as a number of stocks that had been inspirational in a bear market decided to give in to the overriding sentiment. More money was pulled out of the market and it seemed like the focus was on stocks that have enough liquidity to make the selling worthwhile. Is this what you call capitulation? Maybe. If so, does that mean it is almost time to buy?
The uranium price continues to spur interest, having strengthened to US$70/lb. Any good news is welcomed. The gold price slumped as the week progressed, hopefully being more a reflection of immediate trading views as opposed to discernible trends. Nevertheless, its performance was disappointing. Apart from uranium, oil is the only commodity doing well.
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