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The Good Morning Report – 10th November

Posted on November 10, 2023

The latest market news, commentary and strategy by Adrian Rowney 

 

#Not everyone will get this meme...but below is a photo of my 3 pens...hahaha...bad brain!!

5 Things that Grabbed my Attention

1.  This is classic...watch:

2. NAB boss Ross McEwan quote : "some of the thinnest mortgage margins I've seen in my time in banking"....I'm maintaining my AVOID on the sector.

3. This year Nufarm (NUF) shares have sold off by around 28% as investors hit the exits on El Nino fears - I think the selloff looks overdone. NUF is due to report results on the 15th of November.... BUY last sale $4.48

4. A stack of PLATINUM/PALLADIUM mines in South Africa are currently loss making, so it's not going to be long until we see closures. This will be bullish for PLATINUM bullion as supply will tighten even further . BUY ETPMPT : the physically backed PLATINUM BULLION ETF. 

5. Tritum which manufactures EV chargers is shutting it's Brissie factory - 400 people will be out of work....Tritum shares are listed on the NASDAQ and around down around 98% since IPO.

ASX Market Update

ASX 200 up 19 points to 7014

By lunch our market was up around 50 points but then more sellers moved in.... Xero (XRO) was the worst performer in the top 200  - falling 12.4%. XRO was thrown in the sin bin by the market after slightly missing revenue and subscription growth numbers.

Random Observation

I haven't been imagining it....we're getting squeezed like never before. Record migration into Australia is masking the reality.

The Day Ahead

  • Our SPI is down 1 point
  • Bitcoin up 1.7% to $36,225

Movements affecting our resource stocks today (USD)

  • BHP in the US up 0.4%
  • Newmont down 1.96%
  • Gold up 0.26% to $1962
  • Paper Silver down up 0.34% to $22.65
  • Platinum down 1% to $862
  • Copper down 0.18% to $3.63
  • Brent Crude up 0.4% to $79.86
  • Iron ore up 0.3% to $125.15

Asian Market Update

Japan up 1.49%, China FLAT and Hong Kong down 0.33%

Big session for some of these industrial commodities in China - the wave of economic stimulus is obviously driving it.

Global Market Update

US Market

DOW down 220 points to 33,891

FED governor Jerome Powell said they won't hesitate to tighten more (meaning increase interest rates) if necessary to bring inflation down....Markets didn't like the sound of that....There was also a very weak auction of US government bonds overnight.

European Markets

Germans up 0.81%, Brits added 0.73% and Frenchies put on 1.13%

 

A social credit system and Central Bank Digital Coins (CBDC) to follow - people cheering these tyrants have no idea of the consequences....Orwell's 1984 book needs to be moved to the non-fiction section.

Key Market Summary

General Advice Warning
The information provided in this post is general information only. Unless otherwise stated the information is not designed for the purpose of providing personal, financial or investment advice. Any examples are presented for illustration purposes and past performance is not a reliable indicator of future performance. The information provided does not take into account your particular investment objectives, financial situation or investment needs.

Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

Super Equity Pty Ltd ACN 609 373 202 is a Corporate Authorised Representative 001238425 of ANDIKA Pty Ltd AFSL 297069. It should also be noted that references and hyperlinks to any third party information (including, but not limited to: news articles, blogs, reports, videos or other mediums of information) is not an endorsement of that party or product.

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June 22, 2023.
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A huge thanks To Tracy And Adrian from Super Equity for sharing their knowledge on the recent Introduction To The Stock market Course I attended. The course was fabulous and gave a great insight on how the world operates from Share Markets, to Economic Cycles, World Currencies and great tips on how to look for opportunities on how and where to invest based on local news and world events along with overseas markets and indicators. Also thanks again Adrian for the Silver coin for 1st prize as part of the demo share market game we played over the duration of the course. Would thoroughly recommend the Stock Market course as well Tracy and Adrian's knowledge on our own investments. Cheers Charlie
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