The Good Morning Report – 13th March

1. Inflation in the US came in at 3.2% Vs 3.1%….Market reaction was to sell GOLD and BUY AI…..Xi Man very much approves of that price action!

2. Alumina (AWC) has accepted the takeover deal from Alcoa. The good news is the combined group which will trade on the ASX like what happened when Newmont took over Newcrest.….AWC shareholders will end up owning 31.6% of Alcoa under the deal.

3. Goldman Sachs recently hit the media warning investors not to buy into the Chinese market….Hahahaha – what’s the bet they have been backing the truck in on some of these decimated Chinese large caps? I mean C’mon – Alibaba is on a PE of 8!….I maintain my BUY on ASIA and IZZ.

4. Yancoal (YAL) went ex dividend of 32.5c fully franked which works out to be around 46c grossed up. Payment will be made into nominated bank accounts on the 30th of April….Those buying in now won’t be entitled to the dividend but the stock is cheaper.

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5. A BOEING whistle blower was found dead with his brains blown out after failing to turn up to a legal interview. The guy accused BOEING of deliberately fitting sub-standard parts on their planes….But don’t worry, I’m sure that’s just co-incidence number 4536!….BOEING shares fell 4.29%.

ASX up 8 points to 7712

Our market closed fairly FLAT after the large selloff in the previous session which left Aussie investors rattled….AWC was the best performer putting on 8%. I initially thought AWC was great buying at $1.50 after it fell from $2.30 back in October 2021, but it kept heading south. I then posted the below on the 21st of October 2023, so it has been good to see it bounce over 60% since….Sometimes you’ve just got to bite down on the mouthguard and average down.

Cocoa doing a Bitcoin…or is Bitcoin doing a Cocoa?….Same same but different!

The Day Ahead

  • SPI is up 12 points
  • Bitcoin down 1.3% to $71,270
  • BHP down 0.2%
  • Newmont in US down 3.8%
  • RIO in London up 1.16%

Movements affecting our resource stocks today (USD)

  • Gold down 1.13% to $2163
  • Paper Silver down 1.5% to $24.34
  • Platinum down 1.3% to $928
  • Palladium up 0.48% to $1047
  • Copper up 0.22% to $3.93
  • Brent Crude 0.27% to $82.43
  • Iron ore up 1.8% to $109.15

Japan FLAT, Hong Kong up 3% and China dipped 0.4%

Great to see these markets having a little run….plenty of catch up to be had. I think it is a must have in portfolios.

DOW up 235 points to 39,005

Money poured into TECH stocks despite inflation coming in higher than expected. Nvidia surged 7% and Microsoft put on 2.6%.

Germans up 1.23%, Brits added 1% and Frenchies put on 0.84%

The overwhelming majority of people still don’t understand that they are planning on turning our lives upside down. Fortunately the elites tell us their wicked agenda which allows us to prepare and invest accordingly…..How ANYONE can believe that CO2 is bad has got me stuffed. The brainwashing going on is truly next level!


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