The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Inflation is pushing back up in the US: markets fell as a result....Western investors dumped METALS as well (refer to meme); Chinese, Indians and Arabs are loving it - falling supplies and prices rarely occur in tandem, so they will be taking full advantage until the vaults have been sucked dry....The ESTABLISHMENT want you to believe that GOLD, SILVER and PLATINUM are no longer an inflation hedge as the BULLION BANKS continue to blatantly manipulate prices via the SCAM paper futures market.
2. Whitehaven (WHC) director Raymond Zage bought another 132,000 shares or $1 million worth.
3. There has been some serious carnage in fund managers over the past few years.....Magellan, Platinum Asset, Perpetual, AMP, Aust Etical, Insignia have all tanked....Whilst these stocks offer much better value now, I still see financials trading lower with the coming storm. MAINTAIN AVOID ON FINANCIALS.
4. Westpac are now predicting the RBA will stop raising rates at 4.1%, so that's another 0.75% from here....I think WBC is dreaming - rates are going much higher than that: wait till energy prices skyrocket and central bankers have to start printing money again to fund government....Just like in the 70's we are going to see waves of inflation.
5. There is a stack of countries signing cross border trade deals that bypass the USD.....I'd be surprised if the USD is still the global reserve currency by 2030.
ASX Market Update
ASX 200 up 14 points to 7299
Mixed bag on Friday...Goldies were weaker again, Star Group (SGR) closed flat after coming out of a trading halt, while infrastructure and property plays mostly finished in the GREEN.
Can't happen soon enough...
It’s coming— Elon Musk (@elonmusk) February 23, 2023
The Covid Vaccine rollout is psycopathic! pic.twitter.com/xVikTMVvlG— MilkBarTV (@TheMilkBarTV) February 21, 2023
These kind of videos used to get censored immediately on Twitter.
You tell me which side has been spreading misinformation.
The Day Ahead
Reporting today: YAL, TER, SFR, BWX, HLA, HIL, MGF
- Our SPI is down 51 points
- Bitcoin down 0.3% to $23,149 (Sunday morning price)
Movements affecting our resource stocks today (USD)
- BHP in the US was down 3.8%
- Gold down 0.5% to $1818
- Paper Silver down 2.6% to $20.74
- Copper down 2.5% to $3.95
- Brent Crude up 1.3% to $83.84
- $A down 1.2% to 67.25 US cents
Asian Market Update
Japan up 1.29%, China down 0.8% and HK fell 1.68%
Here is the shocking footage of the major coal mine disaster in China. I've watched it 10 times - it doesn't even look real, but it is...Being a miner in China is a super dangerous profession.
The price of coal has pushed higher since the incident.
— 外汇交易员 (@myfxtrader) February 23, 2023
Global Market Update
DOW down 336 points to 32,816
Another RED FLAG....
A subprime auto lender recently had to withdraw a bond offering and is now shutting down completely. All employees laid off. https://t.co/ee4ZfrJ6do
— Joe Weisenthal (@TheStalwart) February 25, 2023
I made the grave mistake back in 2007 of trusting the ESTABLISHMENT when they said everything was fine....Never again will I believe anything from these pathological liars.
DAX down 1.7%, FTSE off 0.37% and CAC fell 1.78%
Hey Adrian, where is the energy crisis in Europe? Putin is losing badly...The Germans don't need plentiful/reliable/cheap RUSSIAN GAS.
Ok - then this is nothing....
This line from BASF release is brutal:
“BASF’s European customers will continue to be reliably supplied with TDI [a chemical product] from BASF’s global production network with plants in Geismar, **Louisiana**; Yeosu, **South Korea**; and Shanghai, **China**”
— Javier Blas (@JavierBlas) February 24, 2023
Key Market Summary