MUDGUTS.....its like this.........at the moment the whole market is on shaky ground...with exchange rates all over the place and the DOW showing no signs of consistency as we have entered a traders market Each day the DOW swings in different directions and catches the inexperienced...professional traders are using all the fear of subprime and finance company collapses as fuel to suck in the punters....albeit the subprime situation is becomming more real and will have a further impact in the next 6 months as we see the real effect of it.
In the meantime the resource sector is coming off the boil for the time being...from my prospective there is sill plenty of growth in the Chinese market but as we should all understand the US market is of great concern as is the US dollar...there is becoming an apparent shift to the EURO over the US dollar due to its devaluation...the EURO is becomming a stronger currency as it was when everyone held the "sterling" which was a stronger currency before and after the second world war" There is a definate shift in the power of currencies whcih means that investors are selling off the USDollar....this is not good for the largest global economy....all this affects the prices of copper , nickel, silver, etc...base metals and i guess if all the above was not happening we would still have strong copper prices.....so im MRX,s case long term should be ok for MRX if the price of copper holds firm and the demand increases otherwiise we will see lower profit levels for all mining producers....remember no one likes a company to report a profit downgrade each quarter...this is what will effect the share price!!
CHEERS JAM
MRX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
