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The Good Morning Report

Posted on August 22, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1.  Buy Now Pay Never stock Splitit (SPT) is delisting from the ASX and moving to the Cayman Islands (I'm sure it's all kosher!!! hahaha) ....SPT share have collapsed 97% from its all time high back in 2020. Good thing I have had a big fat AVOID on the sector.

2. Financial Tech company Iress (IRE) tanked 35% after reporting a heavy loss of $139 mil and suspending dividends...maintain AVOID on financials..

3. India is planning to ban the export of lithium and a bunch of rare earths....protectionism is on the rise.

4. Long term money is getting expensive; US 30 year mortgage rates hit 7.48% - the highest since 2000.

5. There is a reasonable chance that Woodside (WDS) workers will go on strike this week - European GAS prices have been rising due to the threat.

ASX Market Update

ASX 200 down 32 points to 7115

Premier Investments (PMV) rallied 12% after announcing plans that it may carve the company up into 3 - being  Peter Alexander, Smiggle and Apparel (Portmans, Just Jeans, Jay Jays, Jacqui E and Dotti). The current CEO quit at the same time the announcement was made - so things must have gotten heated. I maintain my AVOID on retailers.

Random Observation

Chile needs to fight back against the bankers and other traders that rig the price of copper via paper futures traded on the LME and COMEX by announcing that they are not going to sell any COPPER below $6 per pound.....It's insane that the world's largest producer is getting squeezed at a time when copper inventories are historically low and the USA just put the metal on it's critical list.

The Day Ahead

  • Our SPI is up 15 points
  • Bitcoin down 0.3% to $26,030

Movements affecting our resource stocks today (USD)

  • BHP in the US up 0.82%
  • Newmont FLAT
  • Gold up 0.38% to $1923
  • Paper Silver up 2.7% to $23.36
  • Platinum FLAT @ $915
  • Copper up 0.55% to $3.72
  • Brent Crude down 0.44% to $84.44
  • Iron ore up 0.6% to $107.45

Asian Market Update

Japan up 0.37%, Hong Kong down 1.8% and China off 1.24%

Growing protectionism around the world will be inflationary....

Global Market Update

US Market

DOW down 36 points to 34,463

Money was gushing into BIG TECH after the recent dip - Nvidia surged 8.47%, Tesla jumped 7.3% and Meta put on 2.3%. 

European Markets

Germans up 0.19%, Brits FLAT, Frenchies added 0.47%

German inflation came in at 6.5% which was down slightly on the previous reading....The German economy is suffering from STAGFLATION  as prices of stuff continues to rise while the economy is in recession; brutal cycle for the average joe.... Meanwhile it is all rainbows and lollipops for large cap stocks as the DAX (German market) trades around all time highs.

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
Stephen Hall
September 21, 2023.
Tracy & Adrian's knowledge/experience with financial markets, greater global & domestic political/economic impacts & individual companies/stocks is not just unique & refreshing, but also gives great peace of mind. Having a team this capable taking care of your hard earned to help avoid knowable negative impacts, and/or take advantage of opportunities well ahead of time is like nothing I've experienced before. Could not recommend highly enough. Subscribe to Adrian's newsletter too if you want a no B.S. commentary that is unlike the sanitised drivel coming from mainstream financial reporting.
jeff allott
jeff allott
June 22, 2023.
Sound knowledgeable and friendly service with advise tailored to my requirements
Natalie Gaby
Natalie Gaby
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.
Charlie Gimblett
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
Leigh P
Leigh P
April 29, 2022.
Tracy has been a pleasure to deal with. Found her very approachable and patient. She is very knowledgeable in super funds and I would highly recommend her to anyone who needs more education on how to make their super work for them.
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February 25, 2022.
My husband and I have had the privilege of receiving the guidance, services and support from Tracy for over 5 years. Having joined Super Equity has been one of the best financial decisions we have made to date. Tracy's extensive experience and knowledge has guided and helped us improve in our financial journey. No question is to silly, Tracy is always available for any query you have and gives us the time to explain our portfolio and investments. Receiving the daily morning reports has been helpful to understand and learn the market. We have always highly recommended and will not hesitate to recommend Tracy and team for any and all financial guidance. Thank you Tracy and look forward to your continual support.
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Tessa Daal
October 13, 2016.
Tracy has been an amazing teacher. I have gone from having no idea about what my super was doing and feeling really overwhelmed by the thought of all that it involved, to now being in control and understanding. Through super equity's I have a transparent, easy to understand managed fund. Tracy has even put me into contact with advisors specialised in life insurance and income protection. I cannot thank Tracy enough for empowering me and helping me organise all my affairs. If you need someone patient an knowledgeable to organise your super and investment portfolio, Tracy is the best!!
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July 8, 2016.
The service and support received from Super Equity has reached and surpassed all our expectations. Having previous experience with stock brokering firms over an 11 year period has highlighted to me how superior the service and support received from Tracy Askew at Super Equity is. For myself and for my clients. Tracy's in depth fundamental and technical knowledge in all areas of the market reduces many hours of my time in the research needed to be successful and profitable for myself and my clients.