The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Lithium giant Albemarle lobbed a $5.5bn takeover bid for Liontown Resources (LTR)....The move put a rocket under the entire sector.

2. Consider this - Lynas (LYC) a globally strategic and significant miner of rare earths has a market cap of $5.9bn - just slightly more than what Albemarle is wanting to buy LTR for!.....I think LYC is set for a big run - maybe RIO TINTO, BHP or GLENCORE could make a bid @ $10+. BUY

3. Short sellers got absolutely smoked on LTR: An eye popping 195 million shares were short sold before the stock popped 68%

4. The ABS will release inflation data today @ 11:30 AEDT....Likely to come in around 7.1%.

5. NAB said they are seeing early signs of stress in its mortgage book....The GREAT RESET SQUEEZE is coming.

ASX Market Update

ASX 200 up 72 points to 7034

After the snooze fest on Monday we got an action packed Tuesday!!! Holy dooley!!!.....Albemarle basically got out in front of the global auto makers by lobbing a whopping $5.5bn bid for Liontown (LTR) which is currently constructing a lithium mine in WA - first production set for mid 2024. The takeover bid sent a stack of other lithium miners surging higher. CXO rallied 15%,  IGO put on 7% and PLS jumped 11%....We may get a short term breather after that huge session, but battery metal stocks are likely to trend higher from here.

Random Observation

BUY shares in cattle farmer, Australia Agriculture (AAC) and also COAL stocks as the GLOBALIST are going to ensure prices stay high as they stand in the way of new supply....

Hope you realize they want us weak and poor....How are people fooled by this nonsense? Co2 is the basis of all life on earth!! (fact check that until the cows come home)

The Day Ahead

  • Our SPI is down 31 points
  • Bitcoin down 2.8% to $27,083

Movements affecting our resource stocks today (USD)

  • BHP in the US up 2.13%
  • Gold up 1.1% to $1975
  • Paper Silver up 1.43% to $23.47
  • Platinum down 0.74% to $974
  • Copper FLAT @ $4.08
  • Brent Crude up 0.78% to $78.68
  • Iron ore up 1.9% to $122.85

Asian Market Update

Gobble Gobble....

And once it goes into China, the GOLD is not allowed out!....Not like us dumbos down under - we can't get it on the plane out of here fast enough.

Global Market Update

US Market

DOW down 83 points to 32,350 (30 minutes to go)

Bonds and stocks down while OIL, GOLD & SILVER up.....Just what we want!!

European Markets

Germans FLAT, Brits up 0.17% and Frenchies added 0.14%

This guy is at the complete opposite of the spectrum to me as he recommends a ZERO allocation to commodities....Good luck with your fuguzi fagazi financial hullabaloo Pauly!!

Key Market Summary

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Stephen Hall
Stephen Hall
September 21, 2023.
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