The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

Hey Boomers - you all know this one is TRUE...I shouldn't laugh....but oh man, my stomach is still hurting after this gem!!

5 Things that Grabbed my Attention

1. Bezos is planning on culling 18,000 Amazon employees.

2. Santos reported US$3.6bn in free cash flow in 2022....BUY last sale $7.24

3. UK inflation rate fell - now running at 10.5% down from 10.7%....Working class POMS are getting screwed over big time.

4. BHP mined a record 146 million tons of IRON ORE over the past 6 months.....License to print money. BUY into any dips.

5. 31% of available copper inventories are getting sucked out of the LME by the end of the week.....BUY WIRE which is the GLOBAL X COPPER MINERS ETF.

ASX Market Update

ASX 200 up 41 points to 7435

It was a busy day as a stack of resources reported quarterly production results. The market liked the numbers from BHP and NST, but wasn't thrilled with STO and disliked AWC which sold off by 6%....I don't normally get too caught up in short term reports as it can often lead to investors making big mistakes. Just look at SFR late last year - the market dumped it based on 3 months worth of production and then the stock almost doubled not long after! I couldn't believe the selling in SFR at the time, which is why I was banging on the table to BUY it.

Random Observation

If you are going to invest in crap like this, you probably deserve to be parted with your money...How can they pay 22% to investors and still have anything left over???... It's an EASY AVOID for me.

The Day Ahead

  • Our SPI is down 1 point
  • Bitcoin up 0.4% to $21,017

Movements affecting our resource stocks today (USD)

  • BHP in the US up 0.9%
  • Gold up 1% to $1926
  • Paper Silver up 1.2% to $23.95
  • Copper up 0.21% to $4.24
  • Brent Crude up 1.5% to $86.26
  • Iron Ore up 2% to $123.40

Asian Market Update

China up 0.8%, Hong Kong down 0.12% and Japan fell 1.4%

This SOLAR BOOM is going to equal a SILVER BOOM....GOT ENOUGH SILVER?!??? YOU SURE??? The ship has yet to sail....

There is a bit of talk that the SILVER is going to get substituted with COPPER in solar panels.... However, these next generation SOLAR panels that are getting made in CHINA will be using double the SILVER loadings!

Global Market Update

US Market

DOW down  137 points to 33159

Amazon shares dipped 1% as BEZOS plans on sacking 18,000 workers at AMAZON....But don't worry guys - BEZOS says he is donating most of his money to charity anyway!

It must be true because it is on CNN!! He definitely won't be using the smoke and mirrors of a foundation to launder his wealth - I can promise you that.

European Markets

FTSE down 1.07%, DAX off 1.72% and CAC fell 1.86%

European stocks traded lower as Christine Lagarde - the ECB President said she is going to keep raising rates until inflation comes back to 2%....The only way inflation can come back to 2% and stay at low levels is if they completely demolish the economy. And even if inflation drops back to 2%, peoples savings will have been crushed as prices have transitioned to permanently higher levels - because that will be a 2% hike on top of the previous 16%+ of inflation over the past couple of years....Central Bankers are con artists.

Key Market Summary

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Stephen Hall
Stephen Hall
September 21, 2023.
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