The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

Absolutely brilliant! hahaahaha...

5 Things that Grabbed my Attention

1. Rumour has it that BHP is no longer selling any  URANIUM into the SPOT market (which has completely dried up), with all its output to be sold under long term contracts...Good chance URANIUM prices double from here.

2. Michele Bullocks has officially started her 7 year term as the RBA's top chook....She has already made it very clear to us lower class citizens that all future inflation will be the result of climate change & the cost of them bravely fighting climate change on our behalf....And I'm sure Bullocks wants you to know that debasing the currency via obscene amounts of digital money printing will never be a factor in causing inflation - so get those kind of Milton Friedman inspired, whacky thoughts out of your heads PRONTO!

3. The market is expecting the FED to keep interest rates on HOLD - the decision will be known on Thursday morning our time.

4. US autoworkers from GM, FORD & Stellantis (which owns Jeep, Ram, Chrysler, Dodge and Fiat) are on strike - they want a 40% pay increase and a 32 hour working week....I wouldn't own shares in US/EU automakers as they are going to get eaten alive by the Chinese - starting to see quite a few BYDs, GWMs and Havals on the roads.

5. More corporate activity in the GOLD sector....Silver Lake (SLR) just bought 11% of Red 5 (RED)....SLR fell 8% on the news while RED rallied 20%....I maintain my BUY on SLR - it will bounce back.

ASX Market Update

ASX 200 down 48 points to 7230

Look at this for a potential stitch up...At the start of the month Macquarie cut its price target on Costa Group (CGC) to $3.19 and now we magically see the Wall Street private equity firm cut it's offer price from $3.50 to $3.20.....I'm telling you there is a dirty game being played as shareholders look like getting fleeced....Why am I the only person calling this BS out???

 

Just have a look at what CGC owns - easy to see why the stock traded around $8 a few years ago.... Paine will be getting a bargain @$3.20 if successful.....CGC is a BUY last sale $2.84

Random Observation

A taste of things to come....

I'm not astounded...In fact it makes perfect sense as the Saudi people are just copying their government who have been aggressively accumulating GOLD.

The Day Ahead

  • Our SPI is down 26 points
  • Bitcoin up 1.2% to $26,836

Movements affecting our resource stocks today (USD)

  • BHP in the US down 0.39%
  • Newmont up 0.33%
  • Gold up 0.36% to $1953
  • Paper Silver up 0.4% to $23.48
  • Platinum up 0.86% to $937
  • Copper down 0.71% to $3.77
  • Brent Crude up 0.47% to $94.38
  • Iron ore down 1% to $121.75

Asian Market Update

Japan up 1.1%, China added 0.26%, Hong Kong down 1.39%

BUY WHC,YAL,NHC - don't overthink it!

 

Global Market Update

US Market

DOW up 6 points to 34,624

I think shareholders in Canadian banks should start praying to JESUS, ALLAH and BUDDAH!

European Markets

Germans off 1%, Brits down 0.76% and Frogs fell 1.39%

France's third largest bank SoGen fell 12%....AVOID financials - markets can't handle high interest rates; it will be very obvious after the event.

Key Market Summary

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September 21, 2023.
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