Good Morning everyone. We are on MARCUS LITE today with an empty office in Melbourne (State Holiday). Henry is on HENRY HEAVY, although he has a State holiday on Monday. The ASX is open on both days. We will provide a Morning and End of Day email today and on Monday. The WEEKEND newsletter will be produced as usual on Saturday.
ASX 200 rallied 24 points to 7049(0.3%) in quiet trade. Holiday in VIC today. Holiday in other States on Monday. China closed too. Miners have been in focus in the last few days, BHP up another 1.2% with RIO and FMG joining the party. Lithium shrugged off its recent depression with PLS up 1.9% and AKE up 2.1%. LTR slipped 1.3% on a KV update. Costs up 6% since January. Gold stocks also in demand as bargain hunters scratched around in the ashes,
US equities ended the session mixed overnight in a volatile day, with the market recovering from its low. The oil price the main concern – up 2.6% as crude inventories at the Cushing storage facility in Oklahoma hit a one-year low. The US has run down their Strategic Reserve at just the wrong time. Higher…
SMALL CAP PORTFOLIO 2.45pm Updates Few changes today with the sell-down of LTR at 299c to a 1% weighting. Gina buying more around 300c it seems. I have also added another 1% in LRS following the Colina update this morning. I think this is good news and the market is not valuing the opportunity. The…
BBUS overbought as the market falls. Oil overbought. ResMed, bouncing, but for how long.
Groundhog day, month, hopefully not year. The oil price is becoming a problem. Three things you need to get rich in the stock market. What are the best three long term stocks in the market – listen to my podcast with John Abernathy.
The ASX 200 dropped another 6 points today to 7025 (0.1%) after an early rally fizzled out. Retail sales were slightly worse than expected and suggest the RBA will be on hold next week.
ASX 200 fell 8 points today to 7030 (0.1%) as a late rally saved the day after early losses. The market managed a rally post the monthly CPI number which came in as forecast at 5.2%. Banks were once again a pillar of strength with the Big Bank Basket up to $175.96. CBA up 0.5%,…
US equities finished sharply lower overnight as bond yields continue to rise, a Government shutdown looms and after consumer confidence and home sales data signalled the US economy may be finally coming under stress. The Dow Jones posted its biggest one-day percentage drop since March, finishing near worst levels, down 388 points (-1.14%), falling below…
