The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. SILVER has to rally 56% to make a fresh record high….We are still very early in the move. BUY ETPMAG
2. AI’s thirst for energy is beyond imagination….OPEN AI went to the White House with the mother of all plans to build a bunch of 5 GW data centers across the US – with each one equivalent to powering a city….Demand for COAL, URANIUM, GAS is only going to go up and up.…and….UP!!! These cheap energy stocks on the ASX are a gift.
3. Macquarie (MQG) has just been fined $US80 mil for overstating the value and performance of 4900 unlisted, mortgage backed securities….Any of you with money tied up in unlisted funds should be pulling it out right now.
4. Perpetual (PPT) shares are now trading lower than where it was back in 1999….Being set in their ways as an old school fund manager has been a disaster for long term shareholders. Glad I’ve had an AVOID on it because many times over the years it has looked cheap, but it was always a value trap.
5. Airbus Albo and Snake Chalmers could be about to crack down on negative gearing which would put the squeeze on a heap of Aussie property investors….No need to own our very expensive BANK stocks.
ASX Market Update
ASX 200 down 15 points to 8126
It was a cracking day for us as the big rotation out of Financials and into Resources continued. CHN rallied 6.87%, LYC put on 4.27% and BHP increased 3.84%.
Random Observation
You need COAL to make solar panels; that is the process – end of story…..So why do we tolerate blatant mis-information about renewables from politicians, the media and academics on a daily basis???? Is it because people like comforting lies more than the hard truth?
Please don’t get me wrong; I’m not hating on anyone with solar on their roof – I’m just saying that you don’t get to take some ‘holier than thou’ position by being anti-coal!
The Day Ahead
- ASX 200 futures up 19 points
- Bitcoin down 0.8% to $63,240
- BHP in US up 0.8%
- Newmont in US down 1%
- URNM in US was FLAT
Movements affecting our resource stocks today (USD)
- Gold up 0.27% to $2684
- Paper Silver down 0.91% to $32.13
- Platinum up 0.37% to $991
- Palladium down 1.7% to $1042
- Copper down 0.12% to $991
- Brent Crude down 2.26% to $73.47
- Iron ore up 1.8% to $97.40
Asian Market Update
Japan down 0.19%, China up 1.16% and Hong Kong added 0.68%
I think the Xi Man wants to pump the Chinese stock market for 2 major reasons. Firstly the wealth effect – higher stock prices can translate to increased consumer spending and confidence which is good for the overall economy. And secondly – he is probably embarrassed by the pitifully low valuations the Chinese corporates are fetching….Remember this is a dude that wants China to be the leader in every single industry on earth – and I’m sure finance is included in his vision.
I get the feeling the Xi Man wants to get that $5 trillion back and then some! BUY IZZ and ASIA
Global Market Update
US Market
DOW down 304 points to 41,903
Meta shares put on 1.47% after launching a much cheaper Virtual Reality headset…I think the biggest winners will be the Jewish tycoons that own the porn industry – Zuckerberg tailor made these headsets for them! Let’s see if I’m right.
European Markets
Germans off 0.41%, Brits dipped 0.17% and Frenchies down 0.5%
Sweden’s central bank which is called the Riksbank, cut interest rates by 0.25%…..If you are wondering – this is why Sweden doesn’t use the ECB as it’s central bank:
Key Market Summary
