The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Offshore markets were firmer as UBS shares rallied 12% in Europe...GOLD fell 2%.....Does that mean the banking crisis is already over????...HAHAHA...No way - wait for the blow ups in COMMERCIAL PROPERTY to start filtering through these mid tier banks.
2. Elon Musk is calling on the FEDERAL RESERVE to CUT interest rates by 0.5%....No chance of that happening at tomorrows meeting....I think the FED will increase by 0.25% or HOLD.
3. Twiggy is making a takeover bid for nickel miner Mincor (MCR) @ $1.40 per share....The market pushed the stock to $1.48 - firmly above the bid, so he has no chance @ $1.40. Shareholders should HOLD.
4. Surprised Panoramic Resources (nickel miner) didn't charge much higher after Twiggy's move on MCR....PAN is a BUY last sale $0.135
5. The boss of New Hope (NHC) says THERMAL COAL demand is outstripping supply and there are serious supply constraints that are impacting the industry....The big pullback in COAL prices will be temporary. BUY NHC, WHC, YAL.
ASX Market Update
ASX 200 up 56 points to 6955
All major sectors of our market got a bit of loving yesterday due to the strong lead from Wall Street....New Hope(NHC) up 8%, was the best performer in the top 200 after posting a solid half year profit report and giving a bullish outlook for COAL.
Under Investment + Increased Demand for THERMAL COAL = BUY NHC, WHC, YAL!
The Day Ahead
- Our SPI is up 61 points
- Bitcoin up 1.1% to $28,282
Movements affecting our resource stocks today (USD)
- BHP in the US was down 0.95%
- Gold down 2% to $1943
- Paper Silver down 0.76% to $22.47
- Platinum down 1.8% to $978
- Copper up 1.3% to $4.00
- Brent Crude up 2% to $75.33
- Iron ore down 1.7% to $123.35
Asian Market Update
Hong Kong up 1.36%, China up 0.64%, JAPAN SHUT
Xi Man flew over to Moscow to visit his "dear friend" Vlad......And check out who else was visiting at the same time....Do you think China is going to have a problem in securing supplies of scarce resources over the coming years???
AFRICA - Gov representatives from 40 African countries have gone to Moscow today, for a conference called ‘Russia-Africa in a Multipolar World’
Whilst the media spins propaganda about Net Zero & war, they aren’t telling you that Africa is refusing to do as it’s told!
Focus 🔥 pic.twitter.com/nfyq7sgXNE
— Bernie's Tweets (@BernieSpofforth) March 20, 2023
Seeing this should be more proof that our media is just a pure propaganda arm of the government......No serious person can think that Russia is isolated, Russia's economy is broken, Russia staged an unprovoked attack in the Ukraine (8 years of genocide is unprovoked???) and that VLAD is sick and dying.
Global Market Update
DOW up 316 points to 32,560
There has been all sorts of confusion about guarantees of bank deposits....When the crisis broke out, it went from the government is guaranteeing all troubled banks, then to just the majors, but last night we hear they are working on plans to backstop the entire system or $17 TRILLION WORTH!
FRB did surge 29%, but it has been smashed so hard the move overnight barely registers on the chart....Would you want to do bank with them???...Yeah...NUP!!!
Germans up 1.75%, Brits up 1.79% and Frenchies put on 1.42%
Huge excitement in European markets last night as investors pushed UBS up 12%. Other banks also rallied as the ECB basically said it will pump liquidity into the system as required....All I see is the makings of chronic STAGFLATION.
Key Market Summary