The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Notice the underlying narrative is on ways Albo and Chalmers can get their hands on more of our money to pay for their agenda?....I know this is wishful thinking but somehow the script needs to be flipped to: how can we rapidly SHRINK this BIG BROTHER GOVERNMENT/BLOATED BUREAUCRACY, while at the same time only building truly excellent infrastructure that makes sense.....Just remember this: when taking the keys to TWITTER, Elon Musk immediately sacked 50% of staff and now the platform works better/faster; cut the crap and watch things flourish!
2. Rich Dad, Poor Dad Author - Robert Kiyosaki thinks SILVER is the "most undervalued asset of a generation"....He's right, although I would say both SILVER & PLATINUM!....Use this period of weakness to keep accumulating ETPMAG and ETPMPT.
3. Santos (STO) is expecting the Papua LNG project to start producing six million tonnes of LNG pa by the end of 2027 or early 2028. STO has a 22.8% stake....BUY last sale $7.40
4. The Bank of Canada kept rates on HOLD @ 4.5% but is still talking about further hikes due to inflation.
5. SVB Financial Group - owner of Silicon Valley Bank - crashed 56% on Wall Street overnight.....Also SILVERGATE (large crypto bank) filed for administration.....Pay attention - dominoes are falling.
ASX Market Update
ASX 200 up 3 points to 7311
Well the new CEO, of small business accounting software company - Xero (XRO) has come out swinging. Sukhinder Cassidy is firing 800 people as she plans on increasing profitability....Suk must've been channeling her inner Elon Musk; market loved the strategy and sent the stock 10% higher to $87.00. HOLD
And goodbye....because YOUR FIRED!!
I looked back to see why former CEO Steve Vamos decided to tap out...This is what I found:
HAHAHA it was all BS...Stevie knew small business was getting screwed by inflation therefore the board would've wanted him to start the cull. He obviously wanted no part of the fall out - imagine all the stink eye he would have copped and the poor morale.
Stevie - if you are reading this - let me know champ... just a quick email - am I right or am I right?!
GOLD is the last thing the ESTABLISHMENT wants you or other countries owning; here is a 2009 US Embassy cable back to Washington in which the Chinese spell out why:
#Complete travesty that Julian Assange (founder of Wikileaks) is behind bars.
The Day Ahead
- Our SPI is down 47 points
- Bitcoin down 5% to $20,809
Movements affecting our resource stocks today (USD)
- BHP in the US down 0.93%
- Gold up 0.94% to $1835
- Paper Silver up 0.17% to $20.18
- Platinum up 0.63% to $946
- Copper down 0.38% to $4.01
- Brent Crude down 1.29% to $81.60
- Iron ore up 0.5% to $127.50
Asian Market Update
Japan up 0.63%, Hong Kong down 0.63%, China dipped 0.22%
Essentially we now see STAGLATION in Japan as it's economy is doing nothing but prices are rising....Things will only get worse as the Bank of Japan (BOJ) continues to digitally print money like it is going out of fashion....Japanese people need to own PRECIOUS METALS or else they are screwed when the inevitable currency crisis hits.
BREAKING | Japan Q4 GDP revised down to annualized 0.1% growth.https://t.co/lMnAPCR8J2
— Nikkei Asia (@NikkeiAsia) March 9, 2023
Global Market Update
DOW down 543 points to 32,254
I'm getting a serious case of Deja Vu from the lead up into the GFC...The names are different but the price action is the same.
SVB tanked after being forced to do a $2.25bn capital raising to fix it's busted balance sheet.
Germans were FLAT, Brits down 0.63% and Frenchies dipped 0.12%
It' all about who can become the most WOKE...
Sign of the times:
Shell 2019: we are aiming to become the biggest power company in the world
— Javier Blas (@JavierBlas) March 9, 2023
I see a big energy crisis in my tea leaves - a REAL BIG ONE.
Key Market Summary