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The Good Morning Report

Posted on February 22, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Bank burning in Beirut....dominoes.

2. BHP reiterated its plans to sell off its remaining coking coal mines as it wants to focus on "future facing commodities".... The mainstream media, government, and the endless brigade of woke analysts, engineers, scientists, consultants etc are all in on the electrification SCAM so will never call out BHP's blatant propaganda....FACT is - without hard coking coal you don't get wind/solar and EVs - these things would be OVER.

3. The world's AUTO giants are now attending mining conferences for the first time ever.

4. Fruit grower/wholesaler Costa Group (CGC) is predicting a much better growing season and significantly improved labor availability....Could be a good year for CGC: BUY last sale $2.67

5. South Africa's energy grid is in ruin; the entire country is subjected to rolling blackouts....Crazy that PLATINUM is not surging in price. Not sure how much longer the paper shorts on the COMEX can keep it this low. BUY

ASX Market Update

ASX 200 down 15 points to 7336

It is blatantly obvious to me why BHP is playing the woke card by completely getting out of the hydrocarbon (fossil fuels) business...and it's the same reason Twiggy throws his GREEN agenda down our throats; it is all about keeping these mega IRON ORE profits out of the spot light and away from any new windfall tax. Just look - BHP digs up iron ore for $US18 and can now sell it for $128; what a bonanza it is and better margins than what most coal miners are getting...But do you hear government or their paid media shills calling to BAN IRON ORE mining like oil/gas/coal? Of course not!...Hydrocarbons are the bad guy while IRON ORE gets conveniently ignored by the climate cultists.

BHP is a BUY on any decent sell offs.

Random Observation

The cycle has started with shortages galore!!

The Day Ahead

Reporting today: CRN, DMP, EML, FLT, RIO, STO, WOW

  • Our SPI is down 41 points
  • Bitcoin down 1% to $24,577

Movements affecting our resource stocks today (USD)

  • BHP in the US was down 0.5%
  • Gold down 0.34% to $1844
  • Paper Silver up 0.6% to $21.86
  • Copper up 2.6% to $4.21
  • Brent Crude down 1.34% to $82.95
  • Iron ore up 1.2% to $130.51

Asian Market Update

Japan down 0.21%, Hong Kong off 1.7%, China up 0.49%

It's all coming together perfectly....KEEP ACCUMULATING SILVER!!

Global Market Update

US Market

DOW down 642 points to 33,183 (half hour to go)

US stocks and bonds were sold off overnight....Market is getting nervy after giant retail hardware mob Home Depot (HD) delivered earnings that came in lower than expected. HD shares fell 6.64%. 

 

European Markets

Brits down 0.46%, Germans off 0.52% and Frenchies fell 0.37%

The media/climate cultists have been gas lighting us for years that Venice was going underwater due to global warming causing icebergs to melt....Now look!

 

Key Market Summary

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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.

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June 22, 2023.
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