The Good Morning Report – 10th of July

1. Telstra (TLS) added 2.19% on news they are raising mobile phone plan prices by $2 -$4….I think TLS is a solid defensive stock. BUY

2. Chinese banking authorities are entertaining the idea of reducing the amount of capital banks need to set aside for loans…..That means it’s economy could be about to get a boost, which is good for commodities.

3. Republicans in the US support a ban on the issuance of Central Bank Digital Coins (CBDC)….Only control freaks/tyrants want CBDCs to replace cash.

4. The new Labour government in the UK plans on doubling onshore wind, quadrupling offshore wind and tripling of solar….Brits get a trashed environment and higher electricity prices – disgraceful.

5. Santos (STO) has been teasing us around this key breakout level on the chart of about $8.10…Next leg up can’t be too far off. BUY

ASX 200 up 66 to 7829

The badly beaten up financial services group Insignia (IFL) was the top performer in the ASX 200 and rallied 13% to $2.50 after the AFR reported that Brookfield and Bain could potentially make a takeover bid. IFL shares are down 75% from its high and are currently trading around record low prices that were last seen in the GFC….I have an AVOID rating on financials but if someone called me up wanting to have a little swing at IFL, I certainly wouldn’t talk them out of it!

#On the side – what’s the bet that whoever fed the AFR the story about IFL being a takeover target, also bought up shares before the move higher?

SILVER is a BUY….Demand has been way higher than supply for the past 4 years.

The beauty of SILVER is that 70% of supply comes as a by-product of mining other metals such as copper, lead and zinc. Therefore, miners can’t quickly ramp up to meet demand. And we are going to need to see at least US$50 per ounce before new SILVER mines will be able to get off the ground.

  • ASX futures are down 47 points
  • Bitcoin up 2.3% to $57,788
  • BHP in US was FLAT
  • Newmont in US down 0.54%
  • URNM in US up 1.1%

Movements affecting our resource stocks today (USD)

  • Gold up 0.3% to $2370
  • Paper Silver up 0.45% to $31.07
  • Platinum down 1.49% to $998
  • Palladium down 3% to $983
  • Copper down 0.69% to $4.56
  • Brent Crude down 1.14% to $84.77
  • Iron ore up 1% to $109.45

Japan up 1.96%, China added 1.26% and Hong Kong was FLAT

BYD is absolutely killing it and their plug-in hybrid is definitely going to be a winner, winner chicken dinner in Australia…The boom in plug-in hybrids is also fantastic for PLATINUM/PALLADIUM as these two precious metals are needed to make catalytic converters which significantly reduce pollution from a car’s exhaust pipe.

DOW down 52 points to 39,291

Tesla shares have been flying of late and rallied another 3.7% after recently beating quarterly sales expectations. It’s energy storage business is also growing rapidly.

Germans down 1.28%, Brits off 0.66% and Frenchies fell 1.56%

I’ll leave you with this…it’s classic and the best thing you will see all day!

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