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The Good Morning Report – 31st October

Posted on October 31, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. DOW up strongly overnight as OIL prices fell around 3%. 

2. Newcrest (NCM) shareholders will be getting 0.4 Newmont (NEM) shares for every NCM share held - it will show up in your account around the 8th of November.....Newmont is now trading on the ASX.

3. Ford & GM have both warned about soft demand for their EVs....I think people are working out that EVs are not only horrible for the environment but are inferior to Internal Combustible Engine (ICE) cars as well.

4. If there is a big pivot against EVs one day (incumbent governments in the WEST would have to topple) then PLATINUM will be a major beneficiary......Why??...because PLATINUM is needed to make catalytic converters. BUY ETPMPT

5. JP Morgan CEO is selling $141 mil worth of shares. Follow the money - AVOID FINANCIALS

ASX Market Update

ASX 200 down 54 points to 6772

Newmont (NEM) shares had a decent session and rallied 3.09% to $61.34. This would be the equivalent of NCM trading @ $24.53 - I worked out this value by getting the last sale price of NEM and multiply by 0.4% which is the percentage of NEM that NCM shareholders now own.

The combined NEM/NCM is an absolute BEAST. Check it out:

If someone put a gun to my head and said choose one stock, NEM might be the one that comes out of my mouth. BUY 

Random Observation

Without cooking the books on their unlisted investments, I can't see how Industry Super is going to outperform as they aren't loaded up on GOLD.

To me - this is yet another red flag for Industry Super as outperformance is certainly not going to come from toll road stocks; Transurban (TCL) is down 20% since April and Atlas Arteria (ALX) is off 25% since January.

The Day Ahead

  • Our SPI is up 25 points
  • Bitcoin down 1% to $34,329

Movements affecting our resource stocks today (USD)

  • BHP in the US up 0.7%
  • Newmont down 0.8%
  • Gold up 0.45% to $2007
  • Paper Silver up 2.5% to $23.46
  • Platinum up 4% to $941
  • Copper up 0.25% to $3.66
  • Brent Crude down 2.8% to $87.87
  • Iron ore up 1.8% to $121.20

Asian Market Update

Japan down 0.95%, China up 0.2% and Hong Kong FLAT

Apparently the Xi Man and Biden are going to meet up in San Francisco next month. When I heard he could be headed to San Fran I immediately remembered Joe Rogan's Podcast....So I wonder...is the Xi Man agreeing to this meeting so the whole world gets to see that this former great city has turned into the third world?

Watch this:

 

Global Market Update

US Market

DOW up 511 points to 32928

US stocks bounced as traders jumped over each other on hopes that the correction is over. A falling OIL price sort of acts like a tax cut - company margins improve and consumers have extra cash in their pockets to play with.

European Markets

Germans up 0.2%, Brits added 0.5% and Frenchies put on 0.44%

The GERMAN economy fell 0.1% over the quarter which was better than the 0.3% decline that was forecasted....Germany is suffering from the STAGFLATION (falling economy, rising prices).

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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
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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.
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February 25, 2022.
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October 13, 2016.
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