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The Good Morning Report

Posted on September 28, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Aussie inflation rate ticked up to 5.2% from 4.9%...Market only giving Bullocks an 11% chance of hiking rates in her first month as the RBA chairman....I think she will wait until November.

2. OIL prices surged overnight...resulting STAGFLATION (rising prices, falling economy) is going to be brutal.

3. I'm adding Resmed (RMD) to my BUY list after the recent 36% pullback in its share price...last sale $22.99

4. Star Group (SGR) is doing the $750mil capital raising at 60c - massively dilutive issue. What a train wreck - maintaining my AVOID.

5. In the UK, JP Morgan Chase is banning all customer transfers to crypto platforms or anything to do with crypto by the 16th of October.

ASX Market Update

ASX 200 down 7 points to 7030

Star Group shares fell 16% to a fresh record low of 63c after announcing the heavily dilutive $750 mil capital raise @ 60c...They also refinanced their debt, but on very average terms:

BBSY is currently @ 4.19% so add on the 650 points or 6.5% and the cost of SGR's debt hits an eye popping 10.64%....Barclays and Westpac have officially become loan sharks!!

The very high rate does indicate that the BANKS now see SGR as a piece of garbage (JUNK).

Meet Tim "Sharky" Ward - Westpac's new Debt Compliance Officer....Once a month, Sharky will pay the SGR board a friendly visit - just to make sure they are staying on top of things!

Random Observation

Whilst I think people are mad to throw their money at crypto, a bank placing a ban on transfers is a step too far...You should be free to do what you want with your money.

The Day Ahead

  • Our SPI is down 42 points
  • Bitcoin up 0.2% to $26,186

Movements affecting our resource stocks today (USD)

  • BHP in the US up 1.44%
  • Newmont down 4.9%
  • Gold down 1.3% to $1894
  • Paper Silver down 1.7% to $22.80
  • Platinum down 2.25% to $886
  • Copper down 0.2% to $3.64
  • Brent Crude up 2.8% to $96.67
  • Iron ore up 1.2% to $116.35

Asian Market Update

Japan up 0.18%, China added 0.16%, Hong Kong put on 0.83%

Bring it on!!!...Can you hear that sucking noise as GOLD gets piped from the WEST to the EAST?

 

Global Market Update

US Market

DOW down 68 points to 33,550

WTI crude oil futures rallied over 3% as inventories fell more than expected....Investors reacted by selling GOLD and BONDS with the proceeds pouring into the perceived safety of the USD....Xi Man would be happy that his nation gets to accumulate more GOLD at cheaper prices!

European Markets

Germans down 0.25%, Brits off 0.43% and Frenchies were FLAT

Energy stocks were up, while insurers fell....With bonds getting whacked again, the losses insurance companies are sitting on must be out of this world. How long can it be contained is the question!

Key Market Summary

General Advice Warning
The information provided in this post is general information only. Unless otherwise stated the information is not designed for the purpose of providing personal, financial or investment advice. Any examples are presented for illustration purposes and past performance is not a reliable indicator of future performance. The information provided does not take into account your particular investment objectives, financial situation or investment needs.

Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

Super Equity Pty Ltd ACN 609 373 202 is a Corporate Authorised Representative 001238425 of ANDIKA Pty Ltd AFSL 297069. It should also be noted that references and hyperlinks to any third party information (including, but not limited to: news articles, blogs, reports, videos or other mediums of information) is not an endorsement of that party or product.

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Stephen Hall
Stephen Hall
September 21, 2023.
Tracy & Adrian's knowledge/experience with financial markets, greater global & domestic political/economic impacts & individual companies/stocks is not just unique & refreshing, but also gives great peace of mind. Having a team this capable taking care of your hard earned to help avoid knowable negative impacts, and/or take advantage of opportunities well ahead of time is like nothing I've experienced before. Could not recommend highly enough. Subscribe to Adrian's newsletter too if you want a no B.S. commentary that is unlike the sanitised drivel coming from mainstream financial reporting.
jeff allott
jeff allott
June 22, 2023.
Sound knowledgeable and friendly service with advise tailored to my requirements
Natalie Gaby
Natalie Gaby
January 12, 2023.
I highly recommend Super Equity to anyone needing assistance or guidance with their Super. Tracy was very thorough and clearly explained how Super works and why she made particular recommendations for us. Her (and the team's) customer service is outstanding with being very personalised, and we look forward to a long working relationship with them.
Charlie Gimblett
Charlie Gimblett
August 8, 2022.
A huge thanks To Tracy And Adrian from Super Equity for sharing their knowledge on the recent Introduction To The Stock market Course I attended. The course was fabulous and gave a great insight on how the world operates from Share Markets, to Economic Cycles, World Currencies and great tips on how to look for opportunities on how and where to invest based on local news and world events along with overseas markets and indicators. Also thanks again Adrian for the Silver coin for 1st prize as part of the demo share market game we played over the duration of the course. Would thoroughly recommend the Stock Market course as well Tracy and Adrian's knowledge on our own investments. Cheers Charlie
Leigh P
Leigh P
April 29, 2022.
Tracy has been a pleasure to deal with. Found her very approachable and patient. She is very knowledgeable in super funds and I would highly recommend her to anyone who needs more education on how to make their super work for them.
Lena Diez
Lena Diez
February 25, 2022.
My husband and I have had the privilege of receiving the guidance, services and support from Tracy for over 5 years. Having joined Super Equity has been one of the best financial decisions we have made to date. Tracy's extensive experience and knowledge has guided and helped us improve in our financial journey. No question is to silly, Tracy is always available for any query you have and gives us the time to explain our portfolio and investments. Receiving the daily morning reports has been helpful to understand and learn the market. We have always highly recommended and will not hesitate to recommend Tracy and team for any and all financial guidance. Thank you Tracy and look forward to your continual support.
Tessa Daal
Tessa Daal
October 13, 2016.
Tracy has been an amazing teacher. I have gone from having no idea about what my super was doing and feeling really overwhelmed by the thought of all that it involved, to now being in control and understanding. Through super equity's I have a transparent, easy to understand managed fund. Tracy has even put me into contact with advisors specialised in life insurance and income protection. I cannot thank Tracy enough for empowering me and helping me organise all my affairs. If you need someone patient an knowledgeable to organise your super and investment portfolio, Tracy is the best!!
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Dianne Bentley
July 8, 2016.
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