Resource Sector Strategy – Weekly Investment Report

John Robertson

PortfolioDirect

Cyclical positioning remains poor. New World Bank forecasts have highlighted the absence of the growth acceleration needed to move the cycle forward. US dollar strength has added downward price pressures in the metal markets. A currency reversal will be needed for an improvement in cyclical conditions. Lower sector volatility has facilitated a gentle upward drift in sector equity prices with the majority of stocks in the small resources share price index now above their 26 week moving averages. The explorers making up the Phase I stocks in the portfolio models have lost ground - consistent with the sector establishing a cyclical bottom and the absence of a market direction - having shown relatively strong returns in prior weeks. A new review of Poseidon Nickel has been released along with updates for Blackham Resources and Syrah Resources. The PortfolioDirect report is available here (VIEW LINK)


John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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