Global Mining Investing $69.95, 2 Volume e-Book Set. Buy here.
Author, Andrew Sheldon

Global Mining Investing is a reference eBook to teach investors how to think and act as investors with a underlying theme of managing risk. The book touches on a huge amount of content which heavily relies on knowledge that can only be obtained through experience...The text was engaging, as I knew the valuable outcome was to be a better thinker and investor.

While some books (such as Coulson’s An Insider’s Guide to the Mining Sector) focus on one particular commodity this book (Global Mining Investing) attempts (and does well) to cover all types of mining and commodities.

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Thursday, June 27, 2013

Markets set for another correction - Dow going down but less so for ASX

The global market is taking a bit of a hit. Metal prices are collapsing, and this is across the board. Industrial metals are going to take a little time to recover because ultimately the miners of those commodities will need to curtail production, and start undermining their inventories. We can therefore expect 'industrial commodities' like copper, lead and zinc to take some time. I actually expect a broad-based sell off in industrial stocks. You can see from this chart that the Dow Jones had a recovery overnight. I believe this will not stop the market falling. We can see that the market rally settled below its moving average, so I expect it to resume its fall. Gold will unquestionable fall with it over the next few days, but I would expect gold stocks to be the first to recover in the midst of that correction, which could actually be quite fast. Note the nature of the trading action over the last few days. The Dow settled at a support/resistance. Its going down, and I'm expecting a fall back to 14,000 point support in the next month.
I suggest the Australian market has realised the worst of its falls, but will probably find support around 4400 points. One can see a support line from the 6th March 2009.
The best action is to be had in the gold market. The reasons are:
1. Emerging miners are trading at below their cash value. I particularly like GRY.ASX because it has $62mil to find development of a $200mil treatment plant to produce 150,000oz of gold from its 4Moz resource, and  its trading at just $52mil. Crazy market prices.
2. The indebtedness of global markets is ultimately going to result in more tax and currency debasement. There is also growing unrest and distrust in governments, and these are the conditions ripe for gold. Gold is close to support levels. Check out this chart, and note that we are close to the market bottom for gold. I'd actually not be surprised to see gold fall to $1000/oz, but recover to $1100 quickly.
3. So I am expecting to see the Dow and gold fall for the next few days, but for gold to recover whilst the Dow keeps falling. Gold will unquestionably consolidate for a time.

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Investment Strategy

If you are investing for the long term, you still need an investment strategy. Dont be fooled by the rhetoric of fund managers. The reason they advise you to 'buy & hold' is because they dont want to compete with you in sell-offs. Markets and industrial sectors are cyclical, so they demand trading to get the best returns. Fund managers actually cant hope to match the performance of small investors (if you are half good) because they have to manage huge amounts of funds and charge you a fee besides.
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