THE WEEK THAT WAS Nasty old week. There was a dearth of research. It seemed that many analysts went off-grid. February is so exhausting, maybe they decided to take a ski trip. Not much fresh news out there. Plenty of sentiment and plenty of red ink in the market. Iron ore collapsed. Sorry, Dr Chalmers,…
Good Morning Everyone. More of the same overnight. The US market is leaking momentum. Not quite falling over. Just not rising as confidently. The "pause" has the permabears predicting something catastrophic (SNAS trade anyone?). When you have been wrong for three solid months, you are bound to get a bit vocal when it looks like…
UBS joins Macquarie calling the top on Banks – we sell the CBA in our Growth Portfolio and our ASX 200 ETF exposure in the Strategy Portfolio
High PPI numbers see bond yields higher again. Fed Meeting next week – messaging will be “No rate cuts yet” and “No rush”. RBA Meeting next week – Same same – No rush. Some cracks in Big Tech as Nvidia froth blows off and Adobe down 10% after hours. Five EV stocks down more than 80% in 3 years and one going bankrupt. Did Macquarie call the top on banks? Resources popped for a day but back in downtrend today. Lots of lithium newsflow – good and bad. Mostly bad.
SUMMARY 109 stocks overbought (weekly) in the All Ords. Only 23 oversold. No change to LLC, sold BOE yesterday. ANZ and WBC print daily sell signals after the banks fall over yesterday. FMG will be on the radar for the next One Stock Portfolio buy opportunity. GOR resumes its uptrend along with the rest of…
Wall Street ended in the red overnight, weighed down by losses in chipmaker stocks for a second consecutive day. The S&P 500 dropped 0.27%, NASDAQ fell 0.30%, the Dow Jones lost 138 points (-0.35%), breaking its three-day winning streak, and the Russell 2000 underperformed compared to the broader market. February saw a higher-than-anticipated rise in…
ASX 200 fought back from large losses to close down only 43 points at 7670 (-0.6%). ASX 200 off 2.2% for the week. Weakness across the board from the outset, but bargain hunting took over in the afternoon. Banks found some buyers as the day wore on. CBA down 0.6% and WBC down 1.1%, with…
