US stocks closed lower overnight following July 4th Independence Day holiday as the market digests the latest FOMC meeting minutes, trade barriers from China and oil output cuts from OPEC+. The Dow Jones closed down 130 points (-0.38%). Dow at worst down 191 points. S&P 500 down 0.2% NASDAQ fell 0.18, and the VIX rose…
SUMMARY Overbought – A lot of Tech ETFS plus the NASDAQ and NASDAQ ETFs – Big Tech holds up. Overbought Tech ETFs – DRIV, RBTZ, HNDQ, NDQ, FANG, ROBO, SEMI plus IVV and SPY. Daily sell signals (bit fickle) on S&P 500, S&P 100 ETFs – IOO, SPY, IVV. A bit fickle again and not…
US stocks closed lower overnight as the market digests the latest FOMC meeting minutes, trade barriers from China and oil output cuts from OPEC+.
SUMMARY Not the best timing in JLG but positive acquisitions and placement demand were strong. UPDATE – Shows this morning as the stock is virtually unchanged for now. A look at two members’ requests in IMD and ATC. Great guest for On the Couch next week. Not Cathie Wood but the next best thing. Ask…
SUMMARY The Sugar hit didn’t last long. The Fed confirms its hawkishness. Taking some profits on our ideas. Let's quit whilst we're ahead. Bailing on BHP and MQG – let’s wait for some momentum. Not brave enough to try SNAS or BBUS. A STOCK TAKE on JBH – great stock, decent yield, but not a…
I am taking some profits today in the IDEAS PORTFOLIO and throwing in the towel on the BHP and MQG one stock portfolios for the moment. The sugar hit from the RBA pause is well and truly over. That didn’t last long. The ASX 200 was up 33 on the day of the pause, dropped 26 yesterday and the futures are down 37 today.
MARKET AT MIDDAY The ASX dropped 0.9% at the market open, with all sectors in the red, led by losses in the materials sector. Mining and energy stocks declined, while consumer discretionary stocks also performed poorly. Magellan Financial Group (MFG) saw a 7.2% drop in its shares due to outflows, while Square (SQ2) rallied 4.8%. The ASX 200 is down 71 points to 7182…
Blood on the streets on ASX 200 today, closing down 90 points to 7163 (-1.2%), as investors exercised caution after the FOMC meeting minutes reaffirmed expectations that interest rates would remain higher for longer. Financials and miners weighed, with the big four banks losing between 1%-2%. The Big Bank Basket took a hit down to…
Blood on the streets on ASX 200 today, closingdown 90 points to 7163 (-1.2%), as investors exercised caution after the FOMC meeting minutes.
ASX 200 closed down 26 points to 7253 (-0.4%), letting go of yesterday’s gains, snapping a three-day advance. Financials weighed on the market, with significant losses in the banking sector. NAB -0.8% CBA -0.5%, ANZ -0.8% and WBC -0.7%. Big Bank Basket down to $173.81 (-0.6%). Resources and base metals were mixed, with commodity prices…
