IMARC DAY 1 – Huge Conference
A focus on Graphite and Uranium.Some for your watch list.’Nearology’ rules!
Is this lithium short real?
Despite all the depression surrounding lithium stocks, MIN buys 19.85% of WC8
‘The Call’ today at Noon on Ausbiz
Ask the Analyst Friday at 5.30pm
TECHNICAL SUMMARY
Plenty of daily buy signals after one good day yesterday. ASX200, Dow Jones and S&P500.
RMD with a weekly buy signal. Smooths out the daily volatility.
Information technology oversold on a daily basis.
Futures up again – Better but far from convincing. Yet. Fed tonight – might confirm rates are high enough – that’s the hope.
Thematic Pivot – Inflation beaten in Europe, next stop recession and rate cuts. WeWork – A Rant. Last Month – The scores on the doors. September and October live up to their reputation. Another down month to go. Coming up – US Jobs Number, the US Treasury decision, and the RBA.
ASX 200 up 17 having been up 33 at best – Fed tonight but a US Treasury announcement on borrowing may be more important
ASX 200 kicked 58 points higher to 6838 (+0.9%) after a tentative start. Plenty going on in resources today. BHP commits to potash in Canada up 1.6%. RIO and FMG also kick higher on better iron ore prices. Gold miners a little flat, with NEM down 2.3% and CMM off 1.3%. Lithium producers under pressure again,…
Sold some more IVZ yesterday at 26c. Great result. Up 87%.
HZR slipping away. Still interested on a pullback.
CHL – Adding this one following quarterly.
Lithium – dead and buried? Conflicting signs.
Ausbiz tomorrow.
IMARC kicks off today.
TECHNICAL SUMMARY
68 stocks in the All Ords hit their 52-week low yesterday. MQG included in the list.
NASDAQ up overnight, but finished last week down 12% from the high in July.
Industrials Sector oversold on a weekly basis.
SQ2 hits a 52-week low following the NASDAQ lower.
MARCUS STRATEGY – LESS PESSIMISM
A better night but not buying – Less pessimism does not equal optimism.
Lots of Technical support levels breaking.
Bond yields keep rising despite a sharp drop in the oil price.
Lots of central bank action this week. Good excuse to do nothing.
ASX 200 up 26 after a 500 point rally on Wall Street – hard to buy this downtrend.
The ASX 200 finished near flat, up 8 points to 6781 (+0.1%) as an early rally reversed. Resources stumbled lower as gold miners slid, EVN off 1.1% and NST down 3.3% and economic data from China disap
