As good times turn to bad, so bad times turn to good. We've gone from the bursting of a major speculative bubble to bust.
So things will turn again, though the timing of that turn is difficult to predict. If I wanted to pick a junior, UMC would be one of those in the box seat.
The long term BRIC story remains in tact IMO. Sentiment is nearing the bottom. Important to see the wood for the trees in times like these.
Don't like seeing you mope like this Inc. Would prefer to see the odd sledge coming through.
As I've said before, the history of the global steel industry is undershooting and overshooting on supply. Things will return to equilibrium.
The other issue to factor in here is the issue of other investment opportunities open, and relative gains (compared with this) that they may offer, when things do bounce back.
Important not to lose sight of that because in love with one particular stock: as strong as its orebody is.
BUSH
UMC Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held