The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Net Zero Policy = Grid Failure/Instability & Expensive Electricity & Environmental carnage & Great for China…..Can anyone prove me wrong?
2. Bitcoin market value topped US$1 Trillion again as money pours into they crypto ETFs.
3. Bezos sold another $2bn worth of Amazon shares – that’s $4bn worth in the last week….I wouldn’t be buying off him.
4. Almost 10% of the GOLD bullion in COMEX vaults has been pulled over the past month….The WEST is desperate for USD which is printed out of thin air, while China and the EAST are desperate for GOLD.
5. The fact that Incitec Pivot (IPL) has a bunch of willing buyers for it’s critically important Aussie fertilizer business, tells me they shouldn’t be selling…BUY last sale $2.70
ASX Market Update
ASX 200 down 55 points to 7547
CBA reported a $5.019bn Net Profit which was 3% lower than the previous corresponding period. Sure, that’s still a ton of money to make, but the stock looks fully priced in my opinion….CBA is a mature bank trading on a high PE of 20 times and it won’t be immune from the volatility when things turn ugly with the global financial system….Maintain AVOID rating.
Random Observation
Looks like he accidently told the truth about Central Banking….
The Day Ahead
- SPI is up 30 points
- Bitcoin up 5% to $51,349
- BHP in US up 1.2%
- Newmont in US down 0.11%
- RIO in London up 0.52%
Movements affecting our resource stocks today (USD)
- Gold down 0.14% to $2004
- Paper Silver up 1.14% to $22.41
- Platinum up 2% to $897
- Copper down 0.26% to $3.70
- Brent Crude down 1.32% to $81.89
Asian Market Update
Japan down 0.89%, Hong Kong up 0.84%, China SHUT
Most people don’t know that more PLATINUM will be needed in HYBRIDS than ICE cars…..HYBRIDS are the future – Toyota knew all along; the other AUTOS will soon work it out….BUY ETPMPT.
Global Market Update
US Market
DOW up 151 points to 38,424
Natural GAS futures in the US have collapsed to a near 30 year low and are down about 56% over the past few months and 83% since the surge higher back in 2022….If I was running a US manufacturer that relies on NATURAL GAS, I’d be loading up on long dated calls and futures in order to lock in bargain basement prices for years to come.
European Markets
Germany up 0.38%, Brits added 0.75% and Frenchies put on 0.68%
Look at this nonsense from the ECB….They are talking about bringing inflation back to 2%….But that will be 2% higher than the huge price rises that are now permanently embedded….Central Bankers know the masses are clueless.
