The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
If the Chinese economy is so poor that a major Chinese miner is firing 100,000 miners then you have to wonder what demand other leading coal miners are going to have? I fear this news will take down all the major UK mining stocks on Monday when the FTSE opens. http://www.zerohedge.com/news/2015-09-27/chinas-hard-landing-has-arrived-chinese-coal-company-fires-100000
This can't be good for any of the major miners if Chinese economy is so poor that a major Chinese miner is firing 100,000 miners. http://www.zerohedge.com/news/2015-09-27/chinas-hard-landing-has-arrived-chinese-coal-company-fires-100000
The world is running out of places to store oil. US refineries are switching over to winter production so there will be a SLIGHT drop in US refinery capacity right around now and for a few weeks. Hard to see oil not dropping further here. Plus Yellen said - whether you believe here or not - that the US Fed will raise rates before the year is out and that usually means the USD will rally... which means weaker oil prices usually.
Yes, I was surprised how poor FRES did when the price of silver rose. Either this indicates that people just want to stay away from gold and silver miners or people simply think that the trend is still down longterm for gold and silver.
We could see a massive drop in US market this week taking all the other markets down. People will be looking at the Fed not raising rates last week and wondering how weak the economy must be that even 0.25% is too risky. I think we could test the August 24th lows sometime this week. Not a prophecy just something to think about. What do you folks think?