The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Elon Musk has increased the price of TESLAS again in China after briefly lowering them the other month.
2. Newscorp are letting go of one in 20 workers after profits fell 30%.
3. The FRENCH are planning on building SIX new NUCLEAR power plants....BUY URNM.
4. The WEST AUSTRALIAN is reporting that TWIGGY is set to sack 1000 people from Fortescue's green energy division....GREEN = SCAM.
5. I watched the Underbelly drama about the Sydney chick who took her clients down in a $40 million Ponzi Scheme....There is a very SIMPLE way to never get caught up in something like that: MAKE SURE YOUR SHARES ARE ON A HIN!
(All clients of SuperEquity have their own individual HIN)
ASX Market Update
ASX 200 down 56 points to 7433
With the price of COAL continuing to tank many in the markets are thinking the glory days are done and dusted...But the big selloff looks to be driven by the financially stretched Adani Group which is selling cargoes of the stuff at cheap prices in order to bring in quick cash.
I maintain my BUY recommendations on YAL, SMR, CRN, NHC & WHC
Adani Group is offering shipments of coal at a discount, sources say, a sign the embattled conglomerate may be seeking to sell cargoes quickly as its liquidity position comes under increased scrutiny https://t.co/TbK1SD3Fgy
— Bloomberg (@business) February 9, 2023
You don't get to be PRO-SOLAR and ANTI-COAL at the same time....Well you can, and millions do - but you'd be a SHILL!
Feel free to forward the link to your kid's Science teacher and ask they/them what grade is this kind of stuff normally discussed!
The Day Ahead
- Our SPI is down 14 points
- Bitcoin up 0.3% to $21,809 (Sunday morning price)
Movements affecting our resource stocks today (USD)
- BHP in the US was down 1%
- Gold down 0.11% to $1876
- Paper Silver down 0.62% to $22
- Copper down 2% to $4.01
- Brent Crude up 2.3% to $86.52
- $A buys 69.10 US cents
Asian Market Update
Hong Kong down 2%, China off 0.3% and Japan up 0.31%
Check this out...
Global Market Update
DOW up 169 points to 33,869
Lyft shares (similar to UBER, but doesn't have a global presence) tanked 36% after reporting that active users were FLAT in the December quarter....Any TECH stocks with a high valuations that aren't reporting strong growth will get hit for six.
Germans down 1.39%, Brits off 0.36% and Frenchies fell 0.82%
Ukrainian Bonds that mature in 2035 are trading at around 19c in the dollar....You would have to have some serious kahunas to buy into them as default risk is sky high.
Key Market Summary