The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Another red flag: US bankruptcies hit a 13 year high.

2. Charter Hall is limiting redemptions from its office fund...Anyone else getting a dose of deja vu from the GFC?  AVOID/REDEEM all unlisted property funds - no need to be there.

3. SILVER futures volume went nuts late last week with the equivalent of 1.5bn ounces trading in just 3 sessions which is a whopping 44 times the amount of available registered PHYSICAL SILVER....Wakey Wakey mining execs - the banksters are having a lend of you, obscene amounts of paper futures trading should not be dictating the price of your physical).

"Hi, my name is Roy - I sell our mine's entire SILVER output at COMEX spot rates...Bankers are our friends!!".

4. United Airline pilots just won a 40% pay rise over 4 years....Inflation is not over.

5. My goodness me - IGO just wrote down the value of the Western Areas mining assets by $980 million after taking over the company for $1.1bn...I put some of you into Western Areas and it turned into a ripper of a trade due to the takeover, so it's a serious bullet dodge. PHEW!!!!!!....IGO closed 4.5% lower; the heavy book loss was absorbed OK as IGO's market cap is around $12bn. 

ASX Market Update

ASX 200 down 4 points to 7298

Our little baby is this Physical SILVER ETF - she has had about 9 good goes around the $34 mark but hasn't been able to sustain a move higher...Is it time??....Sure I could have churned you guys up and down and made good trading profits, but we have to keep our focus on the BIG PRIZE.

Random Observation

Anyone else finding it funny how people like Bowen, Greta, Al Gore, John Kerry etc etc...are not sounding the alarm on AI and demanding it be immediately shut down due to the obscene amount of energy it will consume?

AI will be run off baseload power so that means GAS, COAL and NUCLEAR - it won't work off intermittent renewables....Thus the safest way to get exposure to AI is buying the companies that will power it; my top plays are WDS, STO,BPT, WHC, YAL, NHC and URNM!! 

The Day Ahead

  • Our SPI is down 13 points
  • Bitcoin down 1.15% to $29,925

Movements affecting our resource stocks today (USD)

  • BHP in the US down 1.59%
  • Newmont down 0.8%
  • Gold down 0.3% to $1959
  • Paper Silver down 0.5% to $25.05
  • Platinum up 0.35% to $987
  • Copper down 2.2%to $3.84
  • Brent Crude down 1.7% to $78.44

Asian Market Update

China down 0.89%, Hong Kong up 0.33%, Japan was FLAT

A major Indian Jeweler listed last week - it was a whopping 77 times oversubscribed....

I went searching for GOLD Man to see if he had anything to do with the marketing of the float, but the poor bugger was gang bashed to death back in 2016.....

Global Market Update

US Market

DOW up 76 points to 34,585

Large cap TECH stocks traded higher which translated to the NASDAQ closing up 0.93%....Investors are paying some mind boggling valuations for the big names right now. APPLE closed 1.7% higher and TESLA put on 3.2%.

European Markets

Germans off 0.23%, Brits down 0.38%, Frenchies fell 1.12%

Mining stocks traded lower in Europe on the back of a weaker than expected GDP reading from China....Glencore lost 2.82% and RIO Tinto listing in London fell 1.77%; likely to see our miners dip on the ASX this morning.

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