SMALL CAP PORTFOLIO 3.10 pm Updates Will add 1% weighting in MP1 at 1007c Also adding a small position in HZR of 2% at 62c. Will also add a 1% holding in ABB at 360c on the capital raising. Would add more on a fall below the CR price. SYM deal is a good one.…
ASX 200 closes up 79 points to 6878 (+1.1%). Strength straight out of the blocks on US moves higher. Banks as always leading the charge, with CBA up 1.5% and WBC doing well too, up 1.6%. The Big Bank Basket higher at $176.09 (+1.5%). MQG results this morning had an initial sell-off but rallied to finish up 1.8%.…
Wall Street finished higher overnight, ending near best levels as markets reacted to the Fed’s interest rate decision and Powell’s remarks about keeping rates steady.
SMALL CAP PORTFOLIO SUMMARY ORG seems to be a halfway lob not a tap in. Uranium stocks in focus. Graphite too. Added WBT and LTR weightings yesterday. Looking at MP1 as an add. President Macron goes to Kazakhstan Kochie gets a tip from a Qantas steward. Ask the Analyst tomorrow at 5.30pm 2.45 pm Updates…
FED MEETING – Rates left unchanged as expected. Unanimous decision. Fed’s pause continues. Two months of pauses suggests they may be done. The meeting was not hawkish which was seen as dovish raising hopes that the Fed may have seen the last rate rise.
TECHNICAL SUMMARY Daily buy signals after yesterday’s good day in all stocks from low volatility income to high volatility growth. AKE illustrates how lithium has been fairing of late.
ASX 200 pulled back from intra-day highs to close up 61 points at 6900 (0.9%). Banks led the market higher, with CBA up 1.6%, NAB up 1.5% and the Big Bank Basket up to $173.54 (+1.7%). Fund managers also better, but MQG set to report tomorrow was flat. REITs soared on falling yields, GMG up 2.22% and GPT up 3.0% as 10-year yields fell to 4.80%. Healthcare also finding support from…
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.
