The Good Morning Report – 11th of July

1. Newmont hit a 52 week high on the NYSE after putting on 3.7% overnight….Great to see one of our big positions trending higher.

2. Insignia (IFL) shares fell 7% after denying any knowledge of a potential takeover bid from private equity….Time will tell if it was just a hedge fund that used the AFR to pull off yet another pump ‘n dump.

3. The left wing coalition that just got elected in France want to tax the rich 90%….Going after successful people is an excellent way to destroy a nation.

4. According to a large survey from McKinsey, 46% of American EV owners want to switch back to a normal car.

5. Last month Toyota announced it is moving to 100% hybrid on popular cars and SUVs for the Australian market….All good for PLATINUM and PALLADIUM which is needed to make catalytic converters that go into hybrids.

ASX down 12 points to 7816

Incitec Pivot (IPL) ended talks to sell it’s fertilizer business as it would appear the Indonesian’s were not keen to pay a reasonable price. IPL put the business up for sale as it’s struggling to secure an economical supply of GAS which is needed to make fertilizers….Australia is seriously the laughing stock of the world – we are a super power in GAS but domestically we don’t get access to a steady and cheap supply of the stuff. Both sides of politics, Industry Super (who manage a giant pool of capital) and the big banks are totally responsible for the woke mess we are in.

Anyway….IPL shares didn’t fall because they are somehow starting a $900 million share buyback….BUY last $2.89

I think this will be a bullish development for PLATINUM and PALLADIUM as I predict these Chinese futures will trade at a premium to the COMEX futures prices. Russian and South African miners will then naturally sell their metal to China leaving the WEST with a severe shortage, which ends up triggering a short squeeze (price surge)…..With our investments in ETPMPD and ETPMPT we will get to sit back and enjoy the ride!

Few in the markets understand that buying PLATINUM and PALLADIUM below the average cost of mining is an absolute gift for a patient investor.

  • ASX futures up 66 points
  • Bitcoin down 0.47
  • BHP in US up 0.26%
  • Newmont in US up 3.58%
  • URNM in the US up 4.25% (power up baby!!)

Movements affecting our resource stocks today (USD)

  • Gold up 0.4% to $2377
  • Paper Silver FLAT @ $31.07
  • Platinum up 1% to $1008
  • Palladium up 0.39% to $990
  • Copper up 0.97% to $4.59
  • Brent Crude up 0.78% to $85.32
  • Iron ore down 3.8% to $105.30

Japan up 0.61%, Hong Kong down 0.29% and China off 0.68%

Chinese inflation came in at a 0.2% rise in June Vs 0.4% rise expected by the market. There looked to be some fairly wild swings in different types of meat and vegies…..

DOW up 429 points to 39721

Nvidia rallied 2.66% which drove the NASDAQ and S&P 500 to fresh record highs.

Germans added 0.94%, Brits added 0.66% and Frenchies put on 0.86%

European markets loved the sound of increased escalation as it will mean huge government spending and digital money printing.

Remember when the left were anti-war and all about peace, love and free stuff?….Now they are just a bunch of psychotic war mongers that still want the free stuff – CLOWN WORLD on STEROIDS!

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July 9, 2024.
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