WOR - up 8% and over 52 week high, page-44

I'm at friend's place so hope this will C&P. I subscribe to exc daily newsletter called MacroBusiness. It does top down analysis esp re macro here in Oz. I hope they don't mind me pasting part of their commentary re the mining and energy service sector. see link at end for full article.

I don’t follow mining services firms very closely but there are some sectors that one should simply avoid owing to the top down outlook. I put it to you that mining services remains one of those as the greatest mining and energy investment bust probably ever (certainly in Australia where MND is largely based) has two years at least to run, followed by a long and barren period of next-to-nothing:

We expect this chart to keep falling back to 2005 levels and probably lower. And if you’re looking for other industries that mining services might pivot too then try this chart:


That is, there aren’t any.
Domainfax offers a chart showing the sector damage today:

'It’s been a wild bear market rally that now appears to be over.'

http://www.macrobusiness.com.au/201...rm=When the mining rally turned really stupid