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Month: October 2015

Morning Report Friday 9th October 2015

by james Carter

Stocks have got their “Mojo” backGood morning and happy Friday!OverviewThe ASX200 has rallied a very strong 6.9% from the targeted 4900 support area with today’s open likely to take it to a rise of over 7% in two weeks – see chart 1. The Market Matters plan to be long has come together perfectly although in hindsight some of our trade location could have been slightly better!Similarly, the Dow has rallied 1680 points (10.9%) and, as we have previously mentioned, importantly ignored bad news showing a clear change in investor sentiment – the glass is now half full! – see chart 2.Technically, the S&P500 is approaching the 2020 resistance area that has capped the market since the 21st of August, a strong break of this level would potentially see a test of trendline resistance around 2070 very quickly.Where to from here?

Afternoon Report Friday 9th October 2015

by james Carter

  • The ASX 200 was fairly quiet today, pushing up towards the end of the day to close up 69 points to 5,280.
  • The commodity charge goes on with BHP Billiton (BHP) closing up 60c to $25.60, up a modest 13% for the week. RIO Tinto (RIO) was stronger, up $2.00 on the day and 13% for the week, closing at $55.18. Fortescue Metals (FMG) was quiet, up only 7c to $2.28. Iron Ore looks to be up again in Singapore +3.3% currently.
  • The banks were mixed, with Commonwealth Bank at one stage down on the day, but finishing up 16c to $75.53. Australia New Zealand Bank (ANZ) was the strongest today finishing up 1.9% to $28.46.

Have a nice weekend and keep an eye open for the weekend report.

Morning Report Thursday 8th October 2015

by james Carter

Remember stocks / sectors are cyclical like the markets

Afternoon Report Thursday 8th October 2015

by james Carter

  • The ASX 200 had a mixed day today and ended disappointingly only +12 points to 5,210.
  • After being up as much as 46 points within half an hour the market started to decline before getting sold off just after mid-day; about the same time that the Shanghai Market opened.
  • Macquarie Bank (MQG) and Australia New Zealand Bank (ANZ) announced the expected sale of Esanda from ANZ to MQG.
  • MQG paid $8.2b including debt, which now makes MQG’s motor vehicle finance assets climb from $9b to $17b.
  • MQG also announced a $400m share placement to institutional investors and a share purchase plan for eligible investors.
  • Bank of Queensland (BOQ) announced a good result which slightly beat market expectations. Full Year 2015 cash earnings were $357m with a dividend of 38c. BOQ finished the day up 85c to $12.46
  • The miners continued to perform well even though the market fell off the highs. BHP Billiton (BHP) was up over 3% to close at $25.00. RIO Tinto (RIO) was off its highs but finished at $53.18 up 2%. On the back of Iron Ore on the rise in Singapore, Fortescue Metals (FMG) rose 5.25% to $2.21, its highest level since June.

Best Sector – Energy
Worst Sector – Industrials

Morning Report Wednesday 7 October 2015

by james Carter

3 stocks / markets that may “spring” into Christmas!

Afternoon Report Wednesday 7th October 2015

by james Carter

  • The ASX 200 had a real roller coaster ride early in the day as witnessed by the chart below. The ASX 200 finishing the day up 30 points to 5,198.
  • The Energy sector (+7%) pushed the market higher with Woodside Petroleum up 6% to $32.10, Caltex (CTX) up 99c (3.1%) to $33.00 and Santos (STO) up 12% to $5.07..
  • The banks were generally better with Australia New Zealand Bank (ANZ) up 16c to $27.72, National Australia Bank (NAB) up 27c to $31.19 and Westpac Bank (WBC) up 16c to $30.52. Commonwealth Bank managed just to scrape into the black, up 4c to $75.00.
  • The big miners were well sort after, with BHP Billiton (BHP) up 38c to $24.26, RIO Tinto (RIO) pushing through $52 late in the day to close up $1.66 to $52.18.
  • Gold stocks performed well after the price jumped last night. Newcrest Mining (NCM) continued to move up, finishing up 4.0% to $14.58, Regis Resources (RRL) up 2.5% to $1.86; whilst OceanaGold Corp (OGC) jumped 26c (12%) to $2.37.

Best Sector – Energy
Worst Sector – Industrials

Morning Report Tuesday 6 October 2015

by james Carter

Well, a big positive night on US markets that will follow through to our market today. Flexibility and an open mind is paramount for successful investing / trading and this is one component we will focus on in our upcoming education courses. We had been looking for one final spike down in the US markets but didn’t get it although we did see it in our market. Our view last week was that our markets had bottomed thus our ‘buy the market’ trading alert on Friday, with any new low in the US a likely confirmation of a secondary buying opportunity.

Afternoon Report Monday 6 October 2015

by james Carter

  • The ASX 200 had a quieter day, but managed to finish in the positive. The ASX 200 finishing the day up 17 points to 5,167. On its high the index was up 79 points
  • The Resources was still the strongest sector today, with the usual suspects performing well; but well off their highs. BHP Billiton (BHP) finished up 38c to $23.88 and RIO Tinto (RIO) finished up 71c to $50.52. Alumina (AWC) had a better day on the back of expected better result from Alcoa on the 8th Oct in the U S. The stock closed up just 2c (2%) to $1.17. Fortescue Metals (FMG) jumped 11c (6%) to $1.98.
  • Origin Energy (ORG) returned to the boards today after a trading halt late last week. The company reported it raised $1.35b from institutional investors. Ninety two percent of the shares on offer at $4.00 each in the raising were taken up and the rest were sold to new investors at $5.20 per share. There is another $1.2b to be raised in the retail offer. Shares were today up 4.2% to $5.56 and the rights were last at $1.57.
  • The other major news was that the Reserve Bank of Australia (RBS) kept interest rates on hold at 2.0%

Best Sector – Materials
Worst Sector – Info. Technology

Afternoon Report Monday 5th October 2015

by james Carter

  • Happy Labour Day Holiday in NSW, QLD, SA, and ACT. The market today decided to take the opportunity, whilst most were away, to jump out of the box and rally strongly. The index finished up 99 points (2.0%) to 5,151.
  • Gold was a stand out today after the price jumped US$22.90 on Friday. Newcrest Mining (NCM) was up 9% to close at $$13.80 after a high of $14.08. Regis Resources (RRL) continued its upward trajectory, rising 8c (4.5%) to $1.85.
  • The Materials Sector was by far the strongest today with BHP Billiton (BHP) up a whopping 4% to $23.50 and RIO Tinto (RIO) up 2.3% to $49.81. The sector also includes the gold stocks so it’s easy to see why!
  • The banking sector was strong but it was the weakest of all the indices. Australia New Zealand Bank (ANZ) up 1.7% to $27.39. Commonwealth Bank (CBA) was up 1.3% to $74.36, Westpac (WBC) up 1.2% to $30.10 and National Australia Bank (NAB) 1.7% $30.60.

Best Sector – Materials
Worst Sector – Banking

Morning Report Friday 2 October 2015

by james Carter

The Australian market outperforms but what’s shining?

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