Henry’s Take – Kashkari Upsets Rally – Fed in No Hurry
A correction searching for an excuse, finds one.
Fed heads out and about.
Charting skills put to work.
Few risk events on the horizon.
Marcus Take Friday – Taking profits and taking a bet on SNAS
The markets are turning over – “Sell before May and Go Away” – we’re taking some profits – its no biggie – just being cute
Pre-Market Report
US equities ended sharply lower overnight, carrying some strength through midday before reversing in the afternoon as risk-off sentiment kicked in ahead of Fridays jobs report. The Dow tumbled for its fourth consecutive session finishing near session lows, down 530 points (-1.35%). Up 294 points at best. Down 568 points at worst. The S&P 500…
Marcus Take Thursday – Still on the ledge – we didn’t jump off.
Powell calms the “No cuts” fear. Waiting on the Friday Jobs number. Relief rally today after the 105 drop yesterday.
Henry’s Take – You Got the Silver!
Fed heads out and about again.
Small relief rally.
Keith Richards and Silver.
Mary Daly from the Fed nails it with the Dot Plots.
End of Day Report
ASX 200 rose 35 points to 7817 (+0.5%) in quiet trade. Banks and industrials are making gains after the drubbing yesterday, with The Big Bank Basket up to $207.93 (+0.4%). MQG did ok, and insurers mixed, with SUN up 0.2% and QBE slipping slightly. REITs are back in demand, led as always by GMG, up…
Members Podcast Thursday – Hovering at the highs
Some lessons on broker research as we rebound from yesterday’s sell off.
Trading Section
SUMMARY Wall St holds up indicating yesterday’s selloff was overdone. Few big name sell signals MIN weathers the selloff yesterday relatively well. Iron ore closes mixed. Staying on the sidelines in MQG and FMG. KAR gives up 3% of gains to close flat. Oil up. Likely to head back towards $2.25 today. Gold stocks up…