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The Good Morning Report

Posted on February 6, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. AFR reported on Sunday night that either Barrick or Newmont have approached Newcrest (NCM) with a takeover bid....NCM have hired defense advisors - don't know why: the answer from the board should be a BIG FAT NO!!! ....NCM likely to rally this morning on the speculation. BUY last sale $22.45

2. The US economy absolutely smashed expectations by adding a whopping 517K jobs in January Vs 187K expected.....Money gushed into the USD while metals and stocks sold off.

3. Mining giant Glencore announced it's SILVER production fell 25%.... meanwhile...SILVER fell 5% on Friday night despite the looming shortages....Keep accumulating!

4. Metallurgical COAL (needed to make steel) is rising in price : this is great news for YanCoal (YAL) and Stanmore (SMR).

5. Warren Buffet's right hand man - Charlie Munger - has called for crypto to be banned in the US.

ASX Market Update

ASX 200 up 47 points to 7558

In what should give a little comfort to property investors and home owners, we saw Stockland (SGP) continue its recovery rally....At times SGP has acted as a good leading indicator of where property is headed so to see it bounce 30% since September, is something to pay attention to. How aggressively the RBA hikes from here will obviously have a major impact, but perhaps the market is now thinking Dr Phil is not going to stick the boot into borrowers as hard as previously thought.

Random Observation

US DEBT only knows one way - UP!....Kind of funny that the American Government is acknowledging that they NEVER intend on paying back the debt.....AVOID US GOVERNMENT BONDS.

 

The Day Ahead

  • Our SPI is up 12 points
  • Bitcoin down 1.7% to $23,392 (Saturday morning price)

Movements affecting our resource stocks today (USD)

  • BHP in the US down 0.7%
  • Gold down 2.75% to $1877
  • Paper Silver down 5% to $22.39
  • Copper down 1.48% to $4.08 (despite a pile of inventory leaving the COMEX - it's just about empty!)
  • Brent Crude down 3.4% to $79.94
  • $A fell 2.26% and now buys 69.19 US cents.

Asian Market Update

China down 0.68%, Hong Kong lost 1.36% and Japan put on 0.39%

Hindenburg research put out a report last week claiming Adani Enterprises is the 'largest CON in corporate history'....The stock got absolutely flogged - it did however close up on Friday by 1.8% after being down 35%.

 

Global Market Update

US Market

DOW down 127 points to 33,926

Stephen says it is the equivalent of $937 per barrel of oil....YIKES!!....Hope you are starting to realize that things are not going back to normal - we have entered the CRAZY ERA. 

European Markets

Brits up 1%, Germans down 0.21% and French put on 0.94%

Can you believe the UK stock market just hit a record high as the working class get kicked for six by rampant STAGFLATION?

Key Market Summary

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Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

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Stephen Hall
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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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