The Good Morning Report – 23rd November

The latest market news, commentary and strategy by Adrian Rowney 

 

5 Things that Grabbed my Attention

1. World Platinum Investment Council just increased their forecasted PLATINUM deficit to 1.07 million ounces for 2023....Invest in things that are in short supply - BUY ETPMPT

2. VIX or the FEAR INDEX in the US has plunged around 40% over the past month....Investors have no fear as they throw money down the markets throat!

3. Newmont shares (which recently listed on the ASX due to the Newcrest takeover)  are down 55% since April 2022...I am expecting a huge recovery for this GOLD/COPPER behemoth. BUY last sale $57.22

4. OPEC has delayed it's OIL production meeting leading to all sorts of speculation about future supply.

5. Great to see US stockbroker Peter Schiff win his defamation case against Nine Entertainment (NEC). The hit piece they ran against him was an absolute disgrace....I've always admired Peter as he is not afraid to take on the establishment and call out their endless BS, plus he is a massive PRECIOUS METALS bull....By the way I have an AVOID on NEC

Go get 'em Pete!!!

 

ASX Market Update

ASX 200 down 4 points to 7073

There are some nasty, capitulation capital raisings going down on our market. Pretty much 3 in 3 days - Healius (HLS), Appen (APX) and Bubs (BUB). Fortunately I had an AVOID on both APX and BUBS but I had a BUY on HLS which tanked 33%.

# A capitulation capital raising is basically when a company is forced into issuing more shares at significantly low prices in order to get money in the door to cover a black hole due to a failed strategy/business plan.

Random Observation

The fundamentals of PLATINUM are sensational;

  • Demand has surged higher
  • Supply constrained
  • Deficit is increasing

Prices could seriously shoot higher from here: BUY ETPMPT

The Day Ahead

  • Our SPI is down 24 points
  • Bitcoin up 0.6% to $37,241

Movements affecting our resource stocks today (USD)

  • BHP in the US down 0.5%
  • Newmont up 0.37%
  • Gold down 0.45% to $1992
  • Paper Silver down 0.69% to $23.70
  • Platinum down 1.6% to $930
  • Copper down 1.2% to $3.76
  • Brent Crude down 0.76% to $81.82
  • Iron ore up 1% to $134.60

Asian Market Update

Japan up 0.29%, China off 0.79% and Hong Kong was FLAT

LITHIUM continues to get hit - so is the EV boom over before it began?....Well governments across the world definitely want EVs to replace ICE vehicles, but I think the people are balking  - due to multiple reasons including economic ones. Therefore I'm predicting incentives will be ramped up through the roof for consumers to buy them and new penalties will be gradually implemented to those with ICE cars....COP 28 (UN climate change propaganda conference) starts on the 30th of November  - it will be one to watch.

 

Global Market Update

US Market

DOW up 184 points to 35,273

US equity investors don't have a care in the world as the VIX or commonly known as the FEAR INDEX fell another 3% to 12.94 - it has now plunged around 40% in a month!....Insiders - being company directors and founders - have been taking full advantage as they dump shares to fearless investors throwing money at the market.

European Markets

Brits down 0.17%, Germans up 0.36% and Frenchies put on 0.43%

UK Finance Minister Jeremy Hunt announced tax cuts for 27 million workers, some business tax breaks and a rise in the minimum wage. Below is a screenshot I grabbed from his speech...

Key Market Summary

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