The latest market news, commentary and strategy by Adrian Rowney
(Now you know how they work out your RATES bill - BASTARDS!!)
5 Things that Grabbed my Attention
1. Alphabet (Google parent) announced it is sacking 12,000 people which is 6% of its workforce.
2. At the height of the GREATEST BOND market BUBBLE of ALL TIME (peaked in the back half of 2020), there was over $18 Trillion worth of negative yielding bonds....Imagine paying for the privilege of investing in a bond - PURE MADNESS....There was a reason I used put out daily warnings; those that lost big money only have themselves to blame - the stupidity of the situation was off the Richter Scale.
3. TETHER is a US$66bn stable coin...it is a SCAM and will blow up one day. Careful out there.
4. Based on current earnings - AWC looks very expensive, however once the alumina price surges it'll be a whole different story. BUY
5. YanCoal (YAL) increased its cash balance by $1.5bn over the past 3 months....the money these guys are making is insane! BUY
ASX Market Update
ASX 200 up 16 points to 7452
YanCoal (YAL) rallied 4.7% after releasing its quarterly report...Production came in way lower than expected (down 20% compared to last year) - mostly due to the floods and covid nonsense - but sales revenue more than compensated for that. They added a whopping $1.5bn to the kitty over the past 3 months alone....With the price of coal trading where it is, YAL is the cheapest large cap stock on the market....I am not going to tell you what price I think it will hit, however it is up there! I maintain my BUY.
Yo Floyd my main man, I know you love countin' that money...well YanCoal is looking for highly experience money counters. Keen bro or what?
SOLAR BOOM = SILVER BOOM
The Day Ahead
- Our SPI is up 30 points
- Bitcoin up 3% to $22,778 (Sunday morning price)
Movements affecting our resource stocks today (USD)
- BHP in the US up 0.84%
- Gold up 0.2% to $1927
- Paper Silver up 0.8% to $24.06
- Copper up 1.13% to $4.27
- Brent Crude up 1.5% to $87.63
- $A up 0.82%, now buys 69.66 US cents
Asian Market Update
China up 0.76%, Hong Kong up 1.8% and Japan added 0.56%
Japan's inflation rate has pushed up to 4% which is the highest since 1981....with the ongoing money printing and interest rates @ negative 0.1%, I can only see inflation continue to rise. Japan is headed for some serious economic pain - investors only hope is selling YEN and switching to PRECIOUS METALS.
Global Market Update
DOW rallied 330 points to 33,375
Tech stocks rallied hard on Friday....NETFLIX put on 8.4% after signing up more customers than what analyst were expecting and Alphabet (Google parent) rallied 5.4% after announcing they are sacking 12,000 workers.
FTSE up 0.3%, DAX put on 0.76%, CAC added 0.63%
Year of the strike, as workers get screwed over by Central Bank induced inflation.
Close to half a million workers are ready to strike on a single day as Britain faces an escalation of industrial action across a number of sectors https://t.co/NUp6rxkdGT
— Bloomberg (@business) January 19, 2023
Key Market Summary