ASX 200 dropped 96 points to 6982 (1.4%) as a broad sell-off hit the market as bond yields and Middle East conflict weighed on risk-takers. Big Banks down in the dumps, with CBA off 1.6% and the Big Bank Basket falling to $175.68 (-1.4%). MQG fell hard on US investment bank sell-off, down 2.7%. Insurers…
ASX 200 – Recent rally has failed to break the downtrend. Qantas (QAN) – In a sentiment hole and still going down. One day it’ll bounce. FMG – Three brokers with sell recommendations yesterday but the share price still goes up. HUB – FUM numbers see it hit all-time highs. Healthcare sector – Oversold and no end in sight as GLP-1 wreaks havoc on CSL and RMD.
SUMMARY Bond yields higher and higher. Recent ASX 200 index rally failing to break the downtrend. Can’t buy into this lack of trend. BHP production numbers. Telstra AGM – now de-risked for a few months. TPG Telecom bid talk – we look at that. QUICKIES Bond yields roofing it here and in the US overnight.…
Wall Street’s major indexes finished mixed overnight, losing earlier gains to end near flatline amid rising bond yields and renewed fears of higher for longer after higher-than-expected retail sales data. The Dow closed marginally in the green, up 13 points (+0.04%), up 163 points at best and down 130 points at worst. The S&P 500…
SMALL CAP PORTFOLIO 3.06pm Update – Ausbiz The Call from Lunchtime. 3.00pm Updates I am going to add a 4% weighting in LPI given it is trading at 53c and is a HK candidate. 57c cash at some stage. Speculative Stock of the Day: LPI +28% on takeover bid from Codelco at 57c. Harry Kane…
Wall Street finished sharply higher overnight, ending near best levels on optimism about the upcoming earnings season. The Dow rose 314 points (+0.93%). The Dow traded higher all day, up 419 points at best. The S&P 500 added 1.07%, and the NASDAQ gained 1.2%. Treasury yields edged higher, and the greenback retreated, with the USD…
TECHNICAL SUMMARY Not too much to go on today. Some quality stocks oversold and showing some mild buy signals (EDV, AMC, AWC). Big stocks oversold on a weekly basis – CSL, TCL, RMD, COL, APA, QAN, ILU. AMC – 5.5% yield, 12x and discounting a lot of bad news. PME – Finally a sell signal.…
SMALL CAP PORTFOLIO SUMMARY Added a small positon in GMD yesterday. The MGFO punt pays off.. LTR just gets more complicated. Tuesday Take Down runs out of candidates. What does that say about the market! Conference season beckons with MicroCaps and IMARC in focus. Great On the Couch Podcast to come. UPDATES – 3.00pm Updates…
MARCUS STRATEGY Struggled with this section today – there are mixed messages on the macro front. Some mild signs of a resources rally and maybe even a Big Tech (FANG+) rally. Neither are convincing enough yet. Wall St up in "Risk on rally" led by hopes for a Diplomatic solution in the Middle East, and…
