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The Good Morning Report

Posted on July 12, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Warren Buffet just paid $3.3bn to take control of the Cove Point LNG export plant in the USA....The guru continues to increase his exposure to hydrocarbons.

2. A Chinese official said that because WIND and SOLAR are "intermittent and unstable" they have no choice other than to rely on COAL.....BUY NHC, WHC and YAL.

3. Let's face it - ChatGPT Open AI is a giant platform built on stealing unlimited amounts of other peoples data. They are currently facing a class action lawsuit over the theft....Careful investing in the AI hype train.

4. Whilst the Japanese stockmarket has rallied strongly this year, bankruptcies in the country hit a 5 year high....things are out of whack.

5. Major APPLE supplier Foxconn has pulled out of a whopping $19bn deal to make semiconductors and display components in India....diversifying away from China is proving to be a mighty challenge.

ASX Market Update

ASX 200 up 104 points to 7108

Traders piled back into stocks on hopes that the correction is over. Time will tell...

I thought this was kind of funny....Crown Casino which was bought out by Wall Street based Blackstone Group has told the Federal Court it can't afford to pay the A$450 million AUSTRAC fine handed down...Yet Blackstone is a behemoth with a market cap of  $A168bn!

I was always baffled as to why Blackstone jumped on Crown before the AUSTRAC fine was issued....Packer definitely dodged a bullet - friggin smart cookie that one!

It is still nervous times for Star Group (SGR) shareholders as they await on its fine from AUSTRAC - I maintain my AVOID rating on the stock.

Random Observation

Larry wants you to BUY BITCOIN instead of GOLD.....Larry is a scheming piece of crap - I would trust him as far as I could throw him....What's the bet Larry has been accumulating GOLD?

The Day Ahead

  • Our SPI is up 32 points
  • Bitcoin down 0.8% to $30,624

Movements affecting our resource stocks today (USD)

  • BHP in the US up 2.24%
  • Newmont up 1.64%
  • Gold up 0.3% to $1937
  • Paper Silver down 0.15% to $23.31
  • Platinum down 0.27% to $932
  • Copper down 0.3% to $3.77
  • Brent Crude up 2% to $79.28
  • Iron ore up 2.6% to $106.30

Asian Market Update

Japan was FLAT, China up 0.55% and Hong Kong put on 0.97%

"Sustainability Bonds"...are you kidding me!?!!...but I guess investors just lap up this complete and utter nonsense without giving it a second thought.

Global Market Update

US Market

DOW up 317 points to 34,261

Traders poured into stocks on hopes that the inflation rate that is due to be released tomorrow will come in around 3% thus easing pressure on the FED to increase rates.

European Markets

Germans up 0.75%, Brits added 0.12% and Frenchies put on 1.07%

Mortgage rates in the UK for a two year fixed deal hit a 15 year high of 6.66%. With wages growth coming through it is likely rates are headed higher.

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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Stephen Hall
Stephen Hall
September 21, 2023.
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jeff allott
June 22, 2023.
Sound knowledgeable and friendly service with advise tailored to my requirements
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Natalie Gaby
January 12, 2023.
I highly recommend Super Equity to anyone needing assistance or guidance with their Super. Tracy was very thorough and clearly explained how Super works and why she made particular recommendations for us. Her (and the team's) customer service is outstanding with being very personalised, and we look forward to a long working relationship with them.
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Charlie Gimblett
August 8, 2022.
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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April 29, 2022.
Tracy has been a pleasure to deal with. Found her very approachable and patient. She is very knowledgeable in super funds and I would highly recommend her to anyone who needs more education on how to make their super work for them.
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February 25, 2022.
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October 13, 2016.
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July 8, 2016.
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