The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. Robusta COFFEE futures surged to another all time high due to dry conditions in key growing countries of Brazil and Vietnam.
2. Directors bought some big licks of Yancoal (YAL)….I think they are confident of picking up a world class MET COAL mine from Anglo America at a very good price. BUY last sale $5.31
3. The Bank of Montreal is warning of credit pressures in Canada….Our banks will not be immune when the inevitable credit crisis hits.
4. Warren Buffet is selling down his Bank of America shares….He dumped most of his bank shares a year or so a ago…..I think he will buy back in when there is blood on the streets – bankers will go to him when they need bailing out, just like what happened in the GFC.
5. Trump is proposing massive investment to build a stack of nuclear power plants across America in order to become the world’s super power in AI (which has an insatiable appetite for electricity)…..BUY URNM, PDN and BOE.
ASX Market Update
ASX 200 closed FLAT @ 8071
As pretty much expected Lynas (LYC) profit fell 73% to $84 mil on the back of lower prices for it’s rare earths. I think the stock perked up a bit because the CEO said prices have started to show some recent improvement. LYC closed 3.39% higher to $7.02
LYC’s Mt. Weld mine is an absolute one of a kind, honey pot of rare earths that will produce until I’m an old man. Definitely no surprise that Gina Rinehart has been accumulating the stock….
Random Observation
I wonder when the PGM mining executives will work out they are getting played by a cartel of very devious banksters? Or are they just banker pawns that are being paid to ask no questions about the blatant manipulation and naked short selling that occurs every trading day in the precious metals futures market?
The Day Ahead
Not much happening for us today…
- ASX futures down 25 points
- Bitcoin down 4% to $59,222
- BHP in US down 2.3%
- Newmont in US down 1.65%
- Block Inc in US down 3.5%
Movements affecting our resource stocks today (USD)
- Gold down 0.5% to $2539
- Paper Silver down 2.85% to $29.12
- Platinum down 2.6% to $937
- Palladium down 2.74% to $937
- Copper down 2.19% to $4.15
- Brent Crude down 1.3% to $78.46
- Iron ore down 0.8% to $100.80
Asian Market Update
Japan up 0.22%, Hong Kong down 1% and China off 0.4%
China continues to accumulate and mine huge amounts of GOLD in order to back it’s financial system. One day it will also use some of the GOLD to buy OIL from the Arabs.
Our Perth Mint exports a big chunk of it’s smelted GOLD to Hong Kong as Aussies are not really interested in it. Just 0.5% of the entire $3.5 Trillion Australian Superannuation pot is invested in GOLD (we are a nation of head in the sand retards when you think about it).
Global Market Update
US Market
DOW down 159 points to 41,091
Nvidia reported earnings that BEAT expectations but came in below some very lofty estimates so the stock fell 5% in after hours trade. The chip giant also announced a whopping $50bn share buyback – kind of ridiculous the company is buying back shares when insiders have been selling.
European Markets
Germans up 0.5%, Brits were FLAT and Frenchies added 0.16%
What a scam….They’re sucking the wealth from the middle class and working poor to the 1%.
Key Market Summary
