The Good Morning Report – 24th Jan

1. The People’s Bank of China is seriously cranking up the money printer to pump into the financial system….BUY IZZ last sale $32.59

2. AWC shares spiked up after closing their alumina Kwinana refinery in WA. The stock has since pulled back a little but is now ready to go again. I am very bullish on ALUMINIUM and the market is tight….Going to need plenty of the stuff to fight wars and don’t forget all the transmission lines that are set to be built. AWC is a BUY last sale $1.065

3. Tata Steel is shutting down both of its blast furnaces at it’s plant in the South of Wales – 2800 jobs to vanish for good…Deindustrialization of the UK and Europe continues.

4. Important to point out that Whitehaven (WHC) doesn’t take ownership of those two BHP hard coking coal mines until April, so we are yet to formally see what these babies can do…..You wait – WHC is going to turn into a cash cow on growth hormones. BUY

5. Massive Australian wind farm/solar company called Global Power Generation has been put up for sale by it’s Spanish owners with a price indication of $4bn. It’s a disgraceful company that trashes the environment and sucks our taxpayer money into it’s growing black hole. GPC will NEVER turn a profit on it’s own two feet; so a perfect fit for the wokes at AGL, ORG, QIC, Industry Super or the Future Fund who are all thought to be interested. GREEN = SCAM

ASX 200 up 55 points to 7476

Our market experienced a broad-based rally on the back of the strong lead out of Wall Street and news that AirBus Albo was not going to mess with the tax cuts for high income earners….RHC put on 1.16%, CRN added 3% and EDV closed 0.92% higher.

*Talk this morning is that Airbus is now doing a backflip on the tax cuts – trust the idiot as far as you could throw him.

I remember staying up all hours of the night flicking from Bloomberg to CNBC as the markets unraveled during the GFC. Being an options dealer through this period was a nightmare as the moves were exacerbated by the leverage….I did learn some valuable lessons though, after getting smoked financially.

  • SPI is up 16 points
  • Bitcoin down 2% to $39,309
  • BHP in US up 1.9%
  • Newmont in US up 1.13%
  • Rio in London up 2.18%

Movements affecting our resource stocks today (USD)

  • Gold up 0.39% to $2030
  • Paper Silver up 1.23% to $22.57
  • Platinum up 0.6% to $908
  • Copper up 1.1% to $3.80
  • Brent Crude down 0.4% to $79.72
  • Iron ore up 2.6% to $132.25

Japan was FLAT, Hong Kong up 2.6% and China added 0.53%

A bit of money came into stocks in Hong Kong as traders front run a rumored 2 trillion yuan ($278bn) package from the Chinese government that will be used to buy stocks.

DOW fell 96 points to 37,905

The DOW was dragged lower by a 12% fall in 3M after the industrial giant posted disappointing earnings guidance.

Germans down 0.34%, Brits FLAT and Frenchies down 0.34%

VW shares rose 5% after the company gave a pretty bullish presentation to analysts as they predict strong volumes in Europe and North America.

VW teamed up with Greta to design the new NetZero model.

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