Month: June 2014
Domestic Telco stocks have rallied well: is time to take profits?
The ASX 200 flew out of the stables early, trading as high as +49 points, drifting back in the afternoon session to close +27 points at 5,447.
The ASX 200 closed on its lows today, down 49 points to 5,420, with the banking sector weak on the back of this morning’s SMH article “Secret trade negotiations: is this the end of the big four?”
The ASX200 rallies 85 points: Am I wrong & are we going up?
Are Gaming stocks losing their lustre as Macau VIP gaming struggles – an opportunity?
All stars aligned today, with the ASX 200 closing 86 points higher today. The broad market was strong, with few losers to be found. E.g. CBA +1.6% to $82.30, NAB +1.8% to $33.59, BHP +3.3% to $36.43 & RIO +2.3% to $59.24.
Please see our Market Matters video updates this week:
The ASX 200 closed down -18 points today, led by the banking sector, with Westpac (WBC) closing down -0.9% to $33.84 and ANZ down -$33.74.
I am finding that domestically, we seem to turn to Iron Ore stocks for some fun and volatility when Gold is quiet and sit on our banks to enjoy excellent fully franked dividend returns. I have produced a number of morning reports over recent months on Iron Ore that have proven accurate, we have retained a zero investment holding to Iron Ore stocks and have traded rallies in Fortescue (FMG) successfully, twice. I am becoming very nervous on Iron Ore stocks as we come to the end of the Financial Year. I believe the risk is totally down for these “price takers” and have shunned bounce opportunities over recent weeks as the sector plunges. I have attached a fun chart illustrating the Fine Wine Index. The Chinese appetite for western luxuries pushed it up strongly in 2010-11, the index has since fallen 40% and it’s only now that the scary news of falling Chinese is hitting the news. If this fall continues, then eventually the Chinese will be forced to stop building the “ghost towns” and the use of Steel / Iron Ore will plunge dragging the price with it.
The ASX 200 was sold down aggressively on the open, led by the SPI futures after Woodside Petroleum (WPL) announced Royal Dutch Shell will be selling a large portion of their WPL stake.
Really bullish, there's more to go in the reflation rally
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