The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Trump is campaigning on banning the FED from issuing a Central Bank Digital Coin (CBDC)….The establishment would be melting down over this. CBDC’s are the end game – ultimate control over the population.
2. I’m adding Karoon Energy (KAR) to my BUY list.
3. China’s ALIBABA is trading on a forward PE of around 7.6 times while AMAZON is on 54.7….That gap has to close. BUY IZZ last sale $32.85
4. Most South African miners are currently paying for privilege to sell PLATINUM to the world (cost>price). With basically a monopoly on supply, these SA mining executives may be the most STUPID people in the world. I seriously don’t understand why they won’t capitalize on their very powerful position in the market….Just think – could you ever imagine RIO & BHP paying to get rid of it’s IRON ORE to China????….Anyway – they’ll work it out one day: BUY ETPMPT
5. Nickel miners have been turned upside down of late in Australia. And now BHP could be forced to shutdown it’s NICKEL operations in WA due to low prices.
ASX Market Update
ASX 200 down 46 to 7346
Our market rolled over again as the Christmas hangover has turned out to be a decent one.
I’m adding Karoon Energy (KAR) to my BUY list. I think the acquisition they made in the Gulf of Mexico (US waters) is a good one and it will generate substantial cash flow over the years….BUY last sale $1.79
KAR has fallen from 32% since October last year on the back of a weaker OIL price, so it’s probably due for a bit of loving.
Random Observation
COLES (COL) Vs WOOLIES (WOW)….I’ve got this strange feeling that COL is going to make some inroads on Woolies….BUY COL last sale $15.42.
The Day Ahead
- SPI is up 38 points
- Bitcoin down 2.3% to $41,505
- BHP in US down 0.3%
- Newmont down 0.53%
- RIO in London up 1.45%
Movements affecting our resource stocks today (USD)
- Gold up 0.75% to $2021
- Paper Silver up 0.89% to $22.87
- Platinum up 2.7% to $913
- Copper up 0.5% to $3.75
- Brent Crude up 1.57% to $79.58
- Iron ore up 2.6% to $129.70
Asian Market Update
China up 0.43%, Hong Kong up 0.75% and Japan was FLAT
Some big moves in the trade data out of China…..The most interesting one is OIL – imports up 45% while exports have fallen off a cliff. Looks like Xi Man is stockpiling for a rainy day….Yet another brilliant move as chaos erupts in the Middle East.
Global Market Update
US Market
DOW up 151 points to 37,468
APPLE shares put on 3.4% after Bank of America upgraded it’s outlook on the stock, saying it was going to rally 20% this year. This put the market in a good mood.
European Markets
Germans up 0.83%, Brits added 0.17% and Frenchies put on 1.13%
Shares of luxury retailer Watches of Switzerland, crashed 36% after cutting earnings guidance for 2024…..Looks to me like the “keeping up with the Joneses” game has come to a screeching halt. In other words – the fake rich, who buy everything on hock and have no assets, are tapping out.
Key Market Summary
