The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. This is HUGE for URANIUM….Amazon announced it is investing in nuclear to run it’s AI…..URNM rallied 6% in the US….Keep BUYING – still major upside to be had.
2. Both Paladin (PDN) and Boss (BSE) are short sold to the tune of around 13% of all shares on issue….Starting today, the shorts are going to be forced to buy back shares – sending both share prices higher. I love a good short squeeze!!!
3. Apparently our private health insurers are going to ask the government permission to hike premiums by 5% to 6%….for the stuff you actually need, inflation is not stopping.
4. China imported a record amount of COAL in September with deliveries up 13% to 47.5 million tons….Thermal coal will remain a major energy source for China for the rest of my life…..A modern coal fired power station is pretty darn efficient with far less pollution than the old days and improvements will continue to be made…..BUY WHC
5. AUD GOLD cracked $4000/oz!! last night.
ASX Market Update
ASX 200 down 34 points to 8284
Our GOLD mining sector was easily the top performer after Evolution (EVN) dropped a very solid quarterly production report. I think EVN is headed higher even after it’s recent rally and now we don’t have to stress out over it’s balance sheet! BUY
Random Observation
It’s insane that PLATINUM is trading below average cost of production while the market is expected to be in deficit of over 1 million ounces in 2024….BUY ETPMPT last sale $138.50
Look away people…look away!!!
The Day Ahead
- ASX 200 futures up 67 points
- BHP in US down 2.46%
- Newmont in US up 1.06%
- URNM in US up 6.16%
Movements affecting our resource stocks today (USD)
- Gold up 0.46% to $2691
- Paper Silver up 0.47% to $31.90
- Platinum up 1% to $1006
- Palladium up 1.69% to $1029
- Copper up 0.68% to $4.36
- Brent Crude up 0.12% to $74.34
- Iron ore down 1.3% to $104.55
Asian Market Update
China was FLAT, Hong Kong off 0.16%, Japan down 1.83%
They are doing hybrids and normal cars so will use PLATINUM or PALLADIUM to make the catalytic converters which are not required in an EV….BUY ETPMPT and ETPMPD
They need the Indian slave labor and low factory overheads to compete against the very thrifty Chinese.
Global Market Update
US Market
DOW up 337 points to 43,077
Novavax (NVAX) shares tanked after the FDA put a hold on it’s 2 in one Covid/Flu vaccine….The corrupt scumbags at the FDA probably didn’t get their usual big bag of money and NVAX’s non-mRNA shots wouldn’t have caused enough turbo cancer, auto-immune disease and myocarditis for the medical industrial complex to profit from (remember their unofficial motto: a patient cured is a patient lost!)
European Markets
Germans down 0.27%, Brits up 0.97% and Frenchies off 0.4%
Luxury retailer LVMH Moet Hennessy Louis Vuitton shares fell 3.68% to a 52 week low after reporting a 3% drop in quarterly sales…..I reckon it’s not the properly wealthy people pulling back, but it’s the fake rich who are loaded up to the eye balls with debt that are getting squeezed – they can’t keep up with the Joneses.
***If you want to a chance to keep up with the Joneses in the future, you need to make sacrifices now to allow you to invest more in SILVER, PLATINUM,PALLADIUM,GOLD,URANIUM, COPPER & COAL.
Key Market Summary
