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The Good Morning Report

Posted on August 29, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Last year KKR lobbed a takeover bid for hospital operator Ramsay (RHC) @ $88 per share - the deal ended up falling over....Today you can pick up the stock for below $50. BUY.

2. JP Morgan said it is going to invest $1bn annually into AI.

3. China asks it's largest fund managers to AVOID net selling of stocks in order to support the market.

4. Disney shares hit a 9 year low - now down 58% from its high.

5. RBA staff have rejected a 10.5% pay rise over the next few years, saying it doesn't make up for the cost of living increases.....As of last year a whopping 1,428 people work for the RBA; got me buggered as to what they even do all day?!?!....Time for a major culling I say - let them get a taste of the real world.

ASX Market Update

ASX 200 up 44 points to 7159

AI exposed stock Appen (APX) tanked 32% to $1.52 after reporting a bigger than expected slowdown in their business which lead to a first half net loss of $43.3mil....I have been sus on this stock since $30 after I randomly stumbled across a whistle blower report who told a story that APX contractors do all sorts of dirty work for BIG TECH and GOVERNMENT (fact checking, censoring, bot posts, election interference)...APX contracts out over 1 million computer geeks, so anything is possible. I have no confidence in the company - if I miss out on a bounce from here, then so be it. AVOID. 

Funnily enough, the whistleblower quickly vanished from the internet - never to be heard of again; if I had any power, I would raid this company to see what the hell they have been up to....It sure is a shame that journalism is dead, because I reckon there is a cracking story in all of this.

Random Observation

Germany has spent hundreds of billions on renewables but has been forced to ramp up COAL consumption to keep the lights on....This is absolute proof that you can't replace base load power (nuclear in this case) with intermittent renewables...Albo, Chalmers and Bowen are lying to you.

The Day Ahead

Reporting: SGR,RMC,TYR,ZIP,MIN,ABC

  • Our SPI is up 14 points
  • Bitcoin FLAT @ $26,137

Movements affecting our resource stocks today (USD)

  • BHP in the US up 1.58%
  • Newmont up 1.87%
  • Gold up 0.47% to $1947
  • Paper Silver up 0.13% to $24.26
  • Platinum up 2.87% to $975
  • Copper FLAT @ $3.76
  • Brent Crude FLAT @ $84.47
  • Iron ore down 1.1% to $112.50

Asian Market Update

Hong Kong up 0.97%, China added 1.13% and Japan rallied 1.73%

No surprises that Aussie lithium miners have been getting pummeled as well...

Global Market Update

US Market

DOW up 213 points to 34,559

US stocks followed on from the positive session in Asia as almost every sector of the market finished in the GREEN. 

European Markets

Germans up 1%, Brits SHUT, Frenchies rallied 1.32%

Are we starting to see the effects of the de-industrialization of Europe?

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June 22, 2023.
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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
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