ASX 200 rose 29 points to 6954 (+0.4%) ahead of NFPs tonight. Banks led the charge higher with the Big Bank Basket at $175.74 (+1.2%). CBA up 1.1%, with WBC the standout, up 2.1%. Insurers rallied, QBE up 2.7%, and MQG doing better up 0.5%, but MFG fell 18.5% on lower FUM numbers again. REITs…
The US and Australian markets all oversold on a daily (short-term) basis. A host of sectors oversold now – Telecoms, IT, Small Ords, Healthcare, Infrastructure REITS. 140 oversold ETFs. Gold ETFS oversold. Uranium ETFs topping out. Oil price topping out. Aussie dollar ETF on a 52 week low.
Dow Jones up 127 points (0.39%) as weaker than expected ADP Employment numbers and Services PMI numbers took the pressure off bond yields as did a 5% fall in the oil price. Markets are bouncing from oversold conditions. The S&P rose 0.81% and the NASDAQ up 1.35% as bond yields retreated after hitting multi-year highs…
SUMMARY Shrinking in uncertain times. Gina buys more LTR. Inevitably thoughts turn to days of yore and Octobers past. Confused and happy to be sidelined for now. Some interesting chart correlations. Will 6900 be the support level? On The Call yesterday talking some interesting stocks, including LTR and PMT. SMALL CAP PORTFOLIO 2.45pm Updates Nothing…
A day on Bond Market Relief. Does one good day does not bottom the market? Is that the top of the oil price? Maybe. Is that the top for inflation? Possibly. Is that the bottom for the Equity market? Unlikely. Still in cash.
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…
