Our Q&As are emailed in our Saturday morning Weekend Report, here’s a list for you to access them directly. If you have a question, we’d love to hear it.
I have been accumulating IOOF shares as I thought that the company has been taking the right steps in transforming an earlier tarnished image problem and instigating various actions to further improve its financial setting. Despite incurring a loss (due mainly to costs associated with acquisitions ) for y/e 30/6/2020 the figures and comments provided by the company for y/e 30/6/2021 trading have confirmed my thoughts.
However, there has been a tardy market reaction to the results. Is there something that I have missed?
The newsletters are great. I have learnt sooo much! Can you tell me if MM thinks Worley (WOR) and Virgin Money (VUK) are a buy? Are there any other banks that you prefer to VUK?
I recently purchased some CSR Limited shares at $5.40 while selling out yesterday at $6.05 (booking a 12% gain in 12 sessions). I note that CSR Limited is closely monitored by MM team and you guys remain bullish on this stock heading into 2022. Are you bullish purely from a technical and value prospective or are you bullish because there’s no further lockdowns anticipated across New South Wales and construction activities will start to pick-up. Do you have a target for Christmas this year on this stock.
Just a question on PDN. Firstly, great tip. I ended with 65.5% profit, so well done. My question is: Why have you sold it at this point? From what I can see, indications are that it may keep going up. What am I missing please?
Long time subscriber but first time questioner! I wanted to ask what MM’s current purchase appetite is for: BHP (if it weren’t already in the portfolio), MFG, RIO and FMG (discussed in a previous newsletter but I’d be happy to read more). Just some quick thoughts to add context to my question: I have recently been doing a lot of charting study, and looking at the weekly and monthly charts alongside their respective daily charts. I set up my charts with 10, 20, 50 and 200 moving averages; often one will see a stock reach a high or low ‘in the middle of nowhere’ on a daily chart, however zooming out to the weekly chart often shows a different story for the stock price high or low in that support or resistance is found at the weekly moving averages. Further to that, when one examines the monthly chart, in many cases a major support point can be found at the 20, 50 or 200 month moving average.
Some recent examples are: MFG: found it’s ‘covid low’ support at its 50mth moving average, and after its recent decline looks like it might find support at its 200wk or 50mth moving average.
BHP: Historically looks like the 20mth moving average has been a good guide for support, and in the next several days looks like the 20mth will be the major support level where the stock might turn around from there.
FMG: back around Sep2018 the 50mth was the major support level before its massive run up where (at least on the monthly chart) the covid low looked like a minor hurdle. Today I am looking for a bounce from the 20mth moving average.
RIO: Similar to BHP, met its covid low at the 50mth moving average and more recently is showing support at the 20mth moving average.
And for some indexes… the XJO’s 2008 financial crisis low found support at the 200mth moving average. NASDAQ’s covid low found support almost bang on the 50mth MA. I didn’t mean to write an essay but this has been a fascinating study for me and I hope others can learn from it.
I am considering becoming a member of MM with a particular interest in following your Flagship Growth Portfolio. Could you please advise how MM would assist me to build the portfolio and enter the market as many positions have been held for quite some time and the price has already increased. FYI, I have 100K available to invest.
What are your thoughts on Z1P’s plan to include cryptocurrency trading and payments on its platform? Great idea for its customer base? Or worry (as I do) that they may be trying to do too much?
