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The Good Morning Report

Posted on March 3, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. RBA is kicking off a pilot trial for a Central Bank Digital Coin (CBDC)...I had hoped that CBDC's would stay a conspiracy theory as government control will go through the roof on implementation.

2. Shares in major crypto bank SilverGate collapsed 56% on the NYSE last night....house of cards.

3.  China is ramping up the construction of COAL fired power stations at the fastest rate since 2015....Those thinking COAL is getting phased out are living in lala land.

4. With Whitehaven (WHC) and YanCoal (YAL) holding large cash balances and Stanmore (SMR) not even declaring a dividend, makes me think that all 3 are bidding for BHP's world class coking coal mines.

5. I can feel it in my bones that Newmont is coming back with a higher bid for Newcrest (NCM) BUY

ASX Market Update

ASX 200 up 3 points to 7255

Sort of a similar session to Wednesday where we saw a rotation out of FINANCIALS (down 1.5%)  and into RESOURCES (up 2.6%). Just what we like to see!!... SFR put on 4.2%, NHC added 4.4% and S32 rose 5%.

Random Observation

Got COPPER?

 

The Day Ahead

  • Our SPI is up 12 points
  • Bitcoin down 0.7% to $23,491

Movements affecting our resource stocks today (USD)

  • BHP in the US was up 2.79%
  • Gold down 0.2% to $1841
  • Paper Silver down 0.62% to $20.96
  • Platinum up 0.48% to $966
  • Copper down 2% to $4.07
  • Brent Crude up 0.38% to $84.63
  • Iron ore up 0.2% to $84.49

Asian Market Update

Japan FLAT, Hong Kong down 0.92% and China FLAT

If you want inflation to rip even higher in the WEST then this is what you would do....

Global Market Update

US Market

DOW up 342 points to 33,003

US GOVERNMENT BONDS sold off again while stocks rallied.....Tesla fell 6.57% after Elon Musk's investor day didn't really excite the punters.

European Markets

Germans up 0.15%, Brits added 0.37% and Frenchies put on 0.69%

Inflation in the Eurozone came in at 8.5% which was higher than the expected rate of 8.3%....Market shrugged it off to close higher.

And look, life is just getting better by the day for the POMS....

 

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June 22, 2023.
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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.
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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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April 29, 2022.
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