25 September 2012 Not much fun today to have seen a moderately strong am followed by a downturn in the pm. I should have studied the Australian market tonight, but so far, I looked only at Boart Longyear, which to my surprise is higher not lower. I think Hong Kong may be weak, but as you perhaps agree, the market in Hong Kong is buffetted by the vagaries of the China markets, which do not interest me too much because I question the wisdom of investing in China shares. I did not listen to the chatterers who attempted to supply a justification for today's late-in-the-day weakness. For whatever reason, bullish sentiment gave way.
Thank you for your comments on Cathedral Energy Services. Even drillers weakened a little today. Still, I agree that Cathedral is a strong hold at this level.
Call me crazy, but I bought a little t.FMC today. This company just purchased some additional coal mining properties in South Africa from Rio Tinto, which apparently wished to exit. I do not subscribe to the notion that political risk in South Africa means that companies that are located there must inevitably trade at low PE's. I had had my eye on t.FMC for a while.
Good luck during the remainder of the week.
robt