15/09/2023 09:01

ASX200 Tech Index

The Tech Index closed up +0.55% on Thursday, with all nine stocks in the leading sector closing higher, while the local stocks are not emulating their US peers, we do believe they will remain strong if/when US Tech hits new highs.

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24/09/2021 09:35

Is tech poised for another leg higher?

Australian tech rallied strongly yesterday enjoying over 90% of the major names closing up on the day while over a quarter of them rallied by 4%, or more. The Technology Sector may only be 5.2% of the ASX200 but it has a larger sentiment influence in our opinion and if / when it looks good the index usually follows although unlike the US the local names have been a distinct laggard in 2021.

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01/09/2021 09:44

Global Macro ETF Portfolio

The portfolio slipped -0.49% over the past week and -1.07% through August although the only position to move by over 5% in the last week of August was our volatility position (VXX US) which fell -5.3%.  Again no major change here with most positions quiet through the week and we maintain the same plans moving forward as we look to tidy this portfolio...

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25/08/2021 09:34

Global Macro ETF Portfolio

The portfolio slipped +xx% over the past week although the only position to move by over 3% was the local tech ETF (ATEC) which actually gained +3.3%, cash remains at 5%.  No major change here with most positions quiet over the week but we have a few plans moving forward as our view towards the likes of oil evolves:

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15/07/2021 09:26

BetaShares ASX200 Tech ETF (ATEC) $22.56

This ETF has a meaningful ~20% exposure to Afterpay (APT) but we still like it over the coming months although our target area around the $26 level is now likely to take longer to be achieved while APT remains under pressure.

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28/06/2021 09:33

Chart of the Week

The ATEC ETF is a repeat of last week but it’s where the action is unfolding, the local tech sector has recovered solidly over the last 6-weeks and we remain bullish still targeting at least another 8% upside for the local tech ETF hence we have no urgency in taking profits with of our tech holdings.

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22/06/2021 09:09

Reviewing MM’s local IT holdings into the current sector strength

The last month has seen the ASX200 rally less 3% but the tech stocks have soared, happily including our positions, conversely as discussed earlier the resources have fallen away after a stellar 2021 to-date e.g. OZ Minerals (OZL) -14%, BHP Group (BHP) -4% and Alumina (AWC) -8%.

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21/06/2021 09:42

Chart of the Week

The local tech sector has recovered solidly over the last 5-weeks and we remain bullish targeting at least another 10% upside hence any buying of the Resources Sector into weakness might initially be funded by cash as opposed to selling some of our tech holdings.

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16/06/2021 09:48

Global Macro ETF Portfolio

This is currently a very defensively set portfolio and that was reflected in it’s performance during the week with the portfolio down -0.10% in a strong market. Cash sits at 15%.

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15/06/2021 09:32

Bedshares ASX200 Tech ETF (ATEC)

MM recently went long the Australian ATEC ETF looking to profit from the abovementioned rotation into the tech sector which is unfolding through global equity markets, at this stage we believe it’s less than half way through its recovery and new all-time highs are on the horizon in the approaching months.

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