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The Good Morning Report

Posted on September 20, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. A third PRECIOUS METALS trader from JP Morgan was just sentenced to 6 months in jail for manipulating the market....WAKE UP mining executives - the COMEX is a SCAM!! 

2. Reports are coming through of strong demand out of India for our MET COAL (needed to make steel)...Prices are firmly above US$300 per ton....BUY SMR,YAL&CRN 

3. Newmont has won approval from the FIRB to takeover Newcrest (NCM)...Shareholders in NCM will automatically receive NEM shares (tradable on the ASX) when the deal gets fully executed in November....I rate NCM as a BUY

4. The Canadian Mortgage and Housing Corporation are saying that 24% of mortgage holders are struggling to cover their monthly payments....This doesn't end well.

5. US government debt just clocked over $33 TRILLION....A whopping $1 TRILLION has been added over the past 3 months alone...This also doesn't end well!...BUY GOLD/SILVER/PLATINUM

ASX Market Update

ASX 200 down 33 points to 7196

MET COAL stocks were among the best performers as the market starts cottoning on that India is going to need endless boat loads of our good stuff in order to make steel for the next stage of their economic development. SMR put on 4.5% and CRN added 3.62%....We should be seeing YAL rally harder (it closed 2.5% higher) but investors are bizarrely worried about them buying BHPs tier 1 coal mines that are up for sale.

Random Observation

Inflation is relentless for the working poor...

The Day Ahead

  • Our SPI is down 9 points
  • Bitcoin up 1.8% to $27,161

Movements affecting our resource stocks today (USD)

  • BHP in the US down 0.8%
  • Newmont down 0.28%
  • Gold FLAT @ $1952
  • Paper Silver FLAT @ $23.48
  • Platinum up 1% to $948
  • Copper down 0.71% to $3.75
  • Brent Crude FLAT @ $94.42
  • Iron ore down 1% to $120.45

Asian Market Update

Japan down 0.87%, China FLAT, Hong Kong up 0.37%

While MET COAL, OIL, URANIUM and IRON ORE has been pushing higher of late - LITHIUM has been on the nose.

Global Market Update

US Market

DOW down 134 points to 34,483 (half hour to go)

The online grocery delivery company Instacart had a very successful IPO after it rallied around 40%. Instacart doesn't own distribution centers but has contractors pick groceries from giant chains such as Kroger and Costco....I wouldn't be a buyer of the stock as Walmart is going to eat them alive in the future.

European Markets

Germans off 0.4%, Brits and Frogs were FLAT

Europe was fairly quiet overnight as the FED kicked off it's two day meeting. While traders are pricing in a ZERO chance of rate hike, it is the commentary from Jay Powell that will move global markets.

Key Market Summary

General Advice Warning
The information provided in this post is general information only. Unless otherwise stated the information is not designed for the purpose of providing personal, financial or investment advice. Any examples are presented for illustration purposes and past performance is not a reliable indicator of future performance. The information provided does not take into account your particular investment objectives, financial situation or investment needs.

Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

Super Equity Pty Ltd ACN 609 373 202 is a Corporate Authorised Representative 001238425 of ANDIKA Pty Ltd AFSL 297069. It should also be noted that references and hyperlinks to any third party information (including, but not limited to: news articles, blogs, reports, videos or other mediums of information) is not an endorsement of that party or product.

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Stephen Hall
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September 21, 2023.
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June 22, 2023.
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January 12, 2023.
I highly recommend Super Equity to anyone needing assistance or guidance with their Super. Tracy was very thorough and clearly explained how Super works and why she made particular recommendations for us. Her (and the team's) customer service is outstanding with being very personalised, and we look forward to a long working relationship with them.
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Charlie Gimblett
August 8, 2022.
A huge thanks To Tracy And Adrian from Super Equity for sharing their knowledge on the recent Introduction To The Stock market Course I attended. The course was fabulous and gave a great insight on how the world operates from Share Markets, to Economic Cycles, World Currencies and great tips on how to look for opportunities on how and where to invest based on local news and world events along with overseas markets and indicators. Also thanks again Adrian for the Silver coin for 1st prize as part of the demo share market game we played over the duration of the course. Would thoroughly recommend the Stock Market course as well Tracy and Adrian's knowledge on our own investments. Cheers Charlie
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