Fortescue Metals Group has so far continued to perform as a strong momentum stock despite all the commotions around Brexit.
I’m short term bearish and long term bullish on gold. I’d like to draw your attention to a couple of charts which back up my fundamental research.
I’m probably the most bearish resources analyst in the world. But this doesn’t mean we can’t make money buying resource stocks — far from it.
Yesterday Fortescue Metals Group announced to the market that US$500 million worth of debt had been wiped off their balance sheet.
Fortescue CFO Stephen Pearce has done a splendid job in cutting the group’s costs, while lifting operational performance. That has allowed FMG to reduce the massive debt pile.
Oil Search Limited [ASX:OSH] was down by almost 2% in afternoon trading today. This is not a surprise, given the sharp reversal in energy prices over the last two days.
While these oil companies may look cheap compared to their highs, it doesn’t mean they are the right sort of oiler’s to buy right now.
Oil is definitely a cost plastics manufacturers want to keep their eye on. Amcor Ltd (ASX:AMC) is one such plastics giant in the business of packaging.
Crude Oil was up 87% from the low of US$26.05 per barrel on 2 February. Indeed, it got the pump. So, is it time for the dump?
Perseus Mining Ltd[ASX:PRU] was up by 6.32% by early afternoon trading today. Since December 2015, the stock has outperformed the ASX200 benchmark index by more than 50%.