Where are we in the Cycle?
Of the five PortfolioDirect cyclical guideposts, two are ‘red’ and three ‘amber’.  The cyclical positioning has been classified as ‘downswing’ with global growth decelerating, a loss of output momentum in China, the largest national user of metal, and less supportive monetary policy settings than have prevailed for most of the post-2009 period.      More...

Market Directions
Equity prices generally turned lower in a succession of daily losses.  Sector equity prices continued to replicate the 1990s experience of moderate gains in a complex set of macro conditions.  Metal prices continued to defy forecasts of global economic weakness as expectations of completed US-China trade negotiations outweighed longer term negative growth impacts in inferred importance. Sector losses were experienced across all development stages.  Gold prices stalled at levels which had been reached in 2018 and 2016  before turning lower.            More...

Portfolio Performance and Positioning
Higher prices for Phase I and Phase II companies drove a positive weekly portfolio outcome despite the market leaders losing posting small losses. Several Phase II stocks which had been under pressure after missing milestones showed ongoing signs of recovery even as they stayed near cyclical low levels.  A relatively large weighting in Phase I companies has been retained.  After portfolio changes were made in the prior week to reflect relative performance outcomes, no further changes were made.   More...

Stock Reviews and Rating Analysis 
PortfolioDirect rating reports analyse the quality and risk attributes of proposed mineral developments.  Rating criteria apply to mining and oil and gas stocks at any stage of development.  PortfolioDirect uses a five point rating scale to measure the risk adjusted quality of proposed mineral developments or companies.    
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The 'Steak or Sizzle' blog provides summary judgements on the top performing ASX-listed resources stocks. More...