Avoiding mining services (for now)

Nathan Bell explains why we’re prepared for even lower share prices in the mining and engineering services sector.

They say that the time to buy is when there’s blood in the streets. In the mining services sector it’s a red river. The sector has been clobbered. The mining services sector (see Chart 1) is down 30% from its most recent peak and within it, Monadelphous, UGL and Worley Parsons are down 43%, 40% and 25% respectively.

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