Henry’s Take – Biotech Updates – 7800 and Pause?
Nothing done yesterday.GEAR paid off. Great result for DXB yesterday with a 25% gain. A look at NEU too. US Tech V Australian Tech
Read more
Marcus Take
US and UK Market closed – not much to go on. Adding to Telstra in the income portfolio. 7.3% yield. Australian stocks correlated with the NASDAQ. Lend Lease – Was that the bottom, finally? Education Corner – How do you spot a correction.
End of Day Report – Retail Sales data comes in soft.
ASX 200 drifts 22 points lower to 7767 (-0.3%). A quiet session with some of Monday's exuberance fading. Banks were steady, with the Big Bank Basket at $209.80 (+0.1%). ANZ the best of the bunch. Insurers slightly firmer, SUN up 0.1% and NHF up 0.4%. REITs were pretty steady SGP up 1.8% and GMG down…
Trading Section
SUMMARY No change to LNAS as we wait for a US lead tonight. TLS prints a daily and weekly RSI buy signal after its drop last week. Good time for income investors to buy or top up. ORI pushing higher. No change. Is maintaining a high average RSI indicating every dip is bought. Oil rises…
Pre-market Report
Equity markets were muted overnight as US and British markets were closed for public holidays. European markets closed higher in a quiet day of trade near best levels, trimming losses from last week amidst hints of upcoming rate cuts by the ECB, with the STOXX 600 up 0.32%, 0.5% from its record high this month,…
Pre-market Report
Wall St recovered from a Thursday sell-off to close higher on Friday night. The Dow Jones finished flat while the S&P 500 and NASDAQ gained 0.7% and 1.1%. The utilities and technology led rally came after economic data indicated a strong US economy with falling inflation expectations. Core capital goods orders, seen as a proxy…
Henry’s Take – The FOMO Meter – Rally Back to 7800 Possible
Bought GEAR on Friday. The FOMO Meter flashes a warning. The usual US Check-Ins. What should Michele learn from the ‘Real World?’
Trading Section
SUMMARY Cleared out PLS, ILU and BPT on Friday morning. None recovered from their opening lows. LNAS should be looking good today. Glad we didn’t get spooked out of that one. Will see which direction the market takes this week before adding anything new. No change to ORI. Materials performed well in the US on…
END Of DAY Report
The ASX 200 rose 61 points to 7788 (0.8%). Solid bounce off 7700 support on low volume and volatility. Banks led the market rally, the Big Bank Basket up to $209.51 (+1%) with ANZ the winner up 1.1%. MQG rose 0.7% with ASX up 1.7%. Insurers lightly better, SUN up 0.6%. REITs did better as GMG rallied 2.3% with SCG up 1.3%. Industrials were too back in demand, TLS up 2.3% as defensives were bid up. WOW up 1.2%,…