Author: james Carter
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.
Arguably the hardest job I have at Market Matters is to keep both traders and investors happy and engaged. By definition, I am likely to be the most active in both trading and investing at the same time but there are some clear structural changes in overall positions and rational. I will take a simple look at both to clarify some of the questions I have received recently through Market Matters.
The ASX 200 sold off early in the session, down -25 points at one stage on Iraq concerns, only to reverse and close up +5 points at 5,412.
The ASX200 is down 150 points: opportunities are starting to emerge
The ASX 200 continued its weakness, closing down 24 points today.
Really bullish, there's more to go in the reflation rally
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