Resource stocks

While the last quarter has been good to many stocks, it hasn't been particular kind to mining stocks. For me, that means it was a good time to top up. I sold off GMI and generated cash to buy small parcels of stocks that I already owned. And with EXT sold off in a takeover, the cheque will be arriving soon.

If you look at the arithmetic, you really wonder how those big institutions move their money. POG has been steady between USD$1650 to $1750 per oz for a while and AUD haven't moved much either. And if the Feds is printing more USD, why should gold stocks fall?

Most of the sentiment is due to China slowing down. Once upon a time, it had no bearing on any other markets. But now China is evolving into a dragon. European woes are not over yet. Instead of citizens accepting past financial mistakes, the Spaniards and Greeks are demonstrating against their governments. Perhaps they should look at how Asia cope with the financial crisis of 1997.

Probably the best place to invest in property is in Spain. Of course, it is high risk. I heard properties bought for 400,000 euros are going for below 100,000. Ah... the lure of the euros. All these over-rated Europeans!