ASX 200 shrugged off early indifference to push off the 6900 level to close at 6925, up 35 points (+0.5%). Banks and industrials leading the bounce from oversold levels. The Big Bank Basket rose to $173.59 (+0.9%). CBA up 0.9%, and NAB up 0.7%. Insurers steadied, fund managers found their feet, and MQG up 1.1%.…
Markets down in the US overnight as economic data fuels rate concerns amid political turmoil in Washington. Dow Jones down 1.29% closing near the low, S&P 500 down 1.37%, Nasdaq down 1.87%. ASX futures down 35 points (-0.5%). The S&P hit its lowest level since June 1 after US job openings for August unexpectedly rose and…
SUMMARY Sold down LRS yesterday at 29c. Nothing done in KAR (yet). Gina goes shopping again. The cunning plan continues. Given the state of the market, taking more medicine in the losers. Are we there yet? No.TARA bites. US politics in disarray. Funding that deficit gets harder. RBA done? One broker thinks so. Ausbiz The…
STRATEGY SUMMARY Getting a mildly precipitous tingle. Advice on doing something clever. Advice on catching the knife. A Tale of Glory. MARCUS STRATEGY I know you don’t want to hear it because 90% of you are long the market and holding what you consider to be long term holdings (probably with capital gains), but in…
ASX 200 fell another 53 points to 6890 (0.8%), an 11-month low with banks and industrials in the firing line today. The Big Bank Basket dropped to $172.06 (-1.6%), with CBA down 1.6% and MQG falling 2.1%. Insurers are once again under pressure despite rising bond yields, usually good for the sector. QBE down 1.0%,…
ASX 200 fell another 90 points to 6943 (1.3%) after weak leads from overseas and bond yields pushing higher. RBA leaves cash rates unchanged in Bullock’s first meeting. Low volume and only tentative signs of some bargain hunting appeared. Resources once again the problem as iron ore fell in Singapore. BHP down 1.2%, and FMG…
US markets ended mixed on the first trading day of Q4, following Friday’s mixed weekly performance and worst monthly performance of the year. The Dow Jones fell 74 points (-0.22%). Up 4 points at best and down 288 at worst. There was a big divergence in performance between Big Tech and the rest of the…
SMALL CAP PORTFOLIO 2.45pm Updates RBA leaves rates unchanged and the statement reads like the previous copy and paste job. No real change from Michele. The central bank keeps its options open and data-dependent again. Sold out the 1% in LRS at 29c that I added to the portfolio at 23.5c a few days ago.…
SUMMARY The Trend is not our Friend. Cash still King. Government shutdown relief short-lived as bond yields rise…again. Resources getting worse. Just standing back, waiting. Aluminium bounces. Could be a trade in S32 or AWC but am lacking conviction. US Results season coming. Goldman optimistic on Tech. The oil trade – done? ResMed pop and…
