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The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG,...

The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X.
Comments (5)
  • Tridentine
    , contributor
    Comments (72) | Send Message
     
    Remember the adage you buy quality when no one wants it.Buy when theres blood in the streets.You can bank on it that miners and oil companies will be around a lot longer than you and I.Theres a lot of value among these names,time to start shopping.Do your homework.
    15 Apr 2013, 08:07 PM Reply Like
  • Agbug
    , contributor
    Comments (1132) | Send Message
     
    A talking head on CNBC actually said something to the effect "PMs and commodities are down today, but why is the rest of the market going down" this afternoon. Now there's an individual that thinks cars and major appliances come from the show room floor as if by magic, right out of thin air. That an economy is based on Tweats and apps.
    15 Apr 2013, 08:34 PM Reply Like
  • xyzthree
    , contributor
    Comments (3) | Send Message
     
    I never saw such a bunch of rabbits in my life. One correction and the entire gold industry, including the "experts" heads for the exit! I have looked all through the computer and haven't found one "expert" that I believe has given a reasonable explanation of what actually happened in the market today, why it happened, or what we really ought to do about it. What frauds! I can't see a single reason to change my investment strategy. It's a dangerous world out there. fredgibson380@gmail.com
    16 Apr 2013, 01:56 AM Reply Like
  • the volkswhisperer
    , contributor
    Comment (1) | Send Message
     
    As an investor with 40 years in the markets, one understands that a few days does not a market make. Commodities have priced themselves at unrealistic levels considering the world economic growth forecasts, and are due for a substantial correction. Some like Gold, I suspect will correct by 30%, other Industrial commodities by 20% as the market digests the realities of what's going on in Europe, the Americas and Asia. I suspect farm products will continue to be strong as a rapidly expanding industrial class in China and India coupled with Latin Ameerica will continue to drive demand.

     

    Regarding US equities, again, many are overpriced considering the slowing trends in corporate profits outside of the financial sector. In today's market where immediate downside risk is greater than immediate upside potential, one should fashion a high yielding portfolio with contrarian value plays, taking advantage of opportunities to acquire international securities at attractive levels. At this point in the market, i would not invest in any securities that pay less than a secure 7% yield. There are plenty of stocks out there that qualify.

     

    Likewise, i would avoid industrial commodity plays until the correction plays itself out over the next few months. Investments in Natural Gas, shipping, pipelines, and international banks are particularly attractive. A few funds and stocks i particularly like are MPW Medical Properties Trust, which has recently corrected, FFC, a Claymore and Crumrine preferred stock fund, SAN Banco Santander, my favorite International Bank Stock, and PWE Penn West Energy. If you're banking 8% on your money you can afford to ride out the periodic downturns that any market encounters - including this one.
    16 Apr 2013, 04:30 AM Reply Like
  • sreimer77
    , contributor
    Comments (241) | Send Message
     
    Strengthening dollar has led to a decline in commodities. Why is the dollar going up? Maybe its because we keep printing $ (kidding). This should devalue the dollar and lead to inflation, which would cause commodity names to increase in value as it would require more dollars to buy the same amount of an asset. The carry trade, thanks Japan, has led to a strengthening dollar. Though, their is now an unwinding of the carry trade, which will lead to a decline in dollars and a rebound in commodity prices. Such a joke! CITI provides a dire forecast as a means to allow their institutional clients to cover their short positions before proxy statements are gonna be issued. If I own a 100 shares in X and those shares are borrowed and sold short, then two people are registered owners of the same share. Yet, we both cannot receive proxy statements as this would be fraud! Voting twice with the same social security # is a felony. So how does someone short prevent this kind of fraud from occurring? Pay a lot of $ to an analyst to support your thesis that the world is coming to an end so you can cover your position at a lower price level.

     

    Fraud, Fraud and more Fraud. Where is the SEC? The shares of many of my stocks are borrowed and sold short. You can see this based upon where the shares are held if you have a margin account. I and the other owner of my shares(person who bought from the short seller) are required by law to receive a proxy statement. How do we both receive proxy for the same shares? It is a felony unless the short sales are covered, allowing for one vote per share. Which really does not prevent fraud form occurring, because if I had CUSIP XXXX1234, and my shares were borrowed and sold short, there is no way possible that the short seller can replace my shares with CUSIP XXXX1234, which means my proxy represents ownership in different shares assuming they are covered in time. I can smell the rotten egg's of lower Manhattan a thousand miles away!
    16 Apr 2013, 11:22 AM Reply Like
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