The Good Morning Report – 5th December

The latest market news, commentary and strategy by Adrian Rowney 

Today's Report proudly sponsored by:

 

5 Things that Grabbed my Attention

1.  Fairly wild 24 hours for GOLD...It hit a record high of $2152 in Asian trade then proceeded to tank 5% to close around $2050....The BULLION BANKS were forced to play whack a mole - but I predict they are fighting a losing battle.

2. BITCOIN has been on a very impressive run of late - up another 5.5% overnight. I wish I was on it - but alas, can't trade hindsight....I have no idea where it heads to from here. If it shoots to $100K I wouldn't be surprised, just like if it crashes 50%.

3. The judge threw out the case against the LME for cancelling $12bn worth of NICKEL trades when prices skyrocketed....What a farce - the LME is a joke...Why are miners, that are getting screwed over by the LME, silent on the matter???

4. Giant Indonesian conglomerate Sinar Mas has sold down 5% of it's holding in Stanmore (SMR) @ $3.70. They still hold 59% of SMR, so it looks like they are just taking a little profit after the huge run. Fair enough - they have made a boat load.

5. LITHIUM prices tanked again in CHINA.

ASX Market Update

ASX 200 up 51 points to 7124

I think it was a good day for Aussies that Brookfield (wokest of woke institutions on the planet) got knocked back by shareholders from buying Origin Energy (ORG). Power bills would definitely have shot higher under their management as they wanted to fast track the insane renewable energy agenda.... It was also nice not to lose yet another key blue chip company from the ASX.  ORG closed 3.9% lower to $7.86.

 

This bloke has pretty much been a part of every EVIL globalist organisation you can think of - UN, WEF, BIS and BOE....I'm telling you - these people HATE us, so thank GOD he was unsuccessful in getting control of ORG....On ya bike PAL!!!

Banksters and the board of ORG were not happy the deal failed as they were set to seriously line their own pockets. The fees and incentives were going to be of the JUMBO variety.

Random Observation

Despite renewables failing on every metric (both environmentally and economically), the establishment is still pressing ahead like no tomorrow. They also want rampant inflation to steal the wealth from the middle class....Do you honestly think 1000 private jets flew in for the UN climate meeting because they want to save the planet? Hahaha - as if... they want to make sure the grift continues.

BUY XMET - critical minerals ETF. 

Not even John Cleese couldn't script this kind of thing....

The Day Ahead

Not going to be the greatest day for us as WESTERN investors rushed into the perceived safety of USD.

  • Our SPI is down 23 points
  • Bitcoin up 5.71% to $41,863
  • BHP in US down 2.45%
  • Newmont down 1.7%
  • Block Inc was FLAT

Movements affecting our resource stocks today (USD)

  • Gold down 2% to $2048
  • Paper Silver down 3.7% to $24.90
  • Platinum down 1.34% to $923
  • Copper down 2.62% to $3.82
  • Brent Crude down 0.84% to $78.22
  • Iron ore down 1.8% to $128.80

Asian Market Update

Japan down 0.6%, China off 0.29% and Hong Kong fell 1.09%

LITHIUM has staged a spectacular collapse....Some may think that the Chinese have manipulated a crash in prices via their FUTURES market....but....FUTURES trading in China is all about physical delivery of the underlying commodity, unlike the COMEX and LME which are giant paper trading markets. Plus if the Chinese could crash LITHIUM that easily, then why don't they just do it to IRON ORE and COKING COAL? 

Global Market Update

US Market

DOW down 41 points to 36,204

Hawaiian Airlines (HA) jumped 193% after Alaskan Air lobbed a take over bid...Alaska Air fell 14% - the buyer generally gets sold off when deals get announced.

Despite the huge move overnight, most HA investors that bought over the past 8 years would still be underwater.

European Markets

Germans FLAT, Brits off 0.22% and Frenchies dipped 0.18%

Miners and energy were the worst performing sector in Europe overnight as decent selling hit the underlying commodities....Glencore fell 3% and RIO in London was off 2.86%.

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