Credit crisis maybe a positive for some good prospects in...

Credit crisis maybe a positive for some good prospects in mining. Already poor support of new IPO'S and some explorers will just vanish. Best way to improve efficiency for those left standing, get rid of lifestyle explorers. Fewer delays for lab results, more staff available for stronger prospects etc etc may more than offset some expected increases.

If you look at what is affected in Australia by credit crisis..higher interest rates for some loans - but property prices down 20% in some areas so?. CNP, ABS, BNB etc People still need day care centres and still shop and tenants pay high rents, still need infrastructure...so underlying businesses intact..just the models for debt used poor and devoid of risk management.

Doomsday AMP analysts quoted last week as saying chance we are headed for recession (albeit small chance) now says market way oversold. I concur.

At the moment though we wait for signals. I see these as the expected reported season anouncements. RIO this week I believe. Hopefully will give us local direction rather than rely on a country that is big enough and ugly enough to get out of any economic mess if it so chooses.

UMC been traded to death atm. Seems the only activity. I feel we should abandon them to their own doom then top up BIGTIME. Some say great trading stock but for others it would be woeful as they play with each other. lol. Wooden ducks? Plastic bath ducks atm I would say. Happy to float but actually go nowhere.

With the credit crisis I do however down grade UMC from multi-multi-multi-multi bagger to multi-multi-multi bagger...as long as indicators ring true :)