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Morning report

What Matters Today: 5 stocks that have popped, time to sell?

The ASX200 rallied strongly yesterday as it enjoyed broad-based buying, by 4pm 60% of the index had closed in positive territory with the Energy Sector again best on ground following the strong rally by crude oil. Outside of iron ore names which have seen the likes of Fortescue Metals Group tumble 35% in just 8-weeks, although it did pay a major dividend on route, the broad market has been devoid of any meaningful selling as we continue to hover within a few percent of its all-time high.

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Morning report

What Matters Today: 3 “elastic bands” MM are monitoring closely

The ASX200 slipped 20-points lower on Wednesday primarily because the index is more heavily weighted towards the value, as opposed to growth stocks i.e. banks and resources. Fortunately a strong performance from the Healthcare & IT stocks stemmed the losses as the market continued to embrace Tuesday’s dovish comments from the RBA. To put things into perspective the Healthcare & IT stocks make up by less than 16% of the ASX200 compared to 41% for the US S&P500 i.e. the growth names exert far less influence on the Australian index.

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Morning report

Portfolio Positioning: Identifying a major risk (s) in each of the 5 MM Portfolios

The ASX200 again recovered from early losses yesterday to close up 12-points with a 4.5% advance by the Energy Sector the clear standout, coincidentally the day after MM described it as “the cheap pocket of the market” – we remain overweight and bullish oil stocks which have fallen in 2021, even while crude oil has rallied almost 50%. The miners played a supporting role which caught our attention as iron ore plumbed multi-month lows, on balance the reflation trade is slowly gathering momentum.

Read more
Morning report

What Matters Today: 3 ASX stocks “Suitors” may be evaluating right now

The ASX200 enjoyed another classic 2021 day to kick off the week, it may not have managed to close on its highs but the local index still recovered from early weakness to close up 0.25%. The number of winners and losers was pretty evenly matched but the aggressive buying which rolled through much of the Resources Sector was more than enough to offset loses elsewhere e.g. OZ Minerals (OZL) +4.2% and Pilbara Minerals (PLS) +7.3%. MM remains both bullish and overweight the Resources Sector but following our purchase of Alumina (AWC) yesterday it’s probably now time to sit back...

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Morning report

Macro Monday: Can liquidity offset the Delta + tapering jitters?

The ASX200 and global equities have rallied strongly since their early 2020 COVID meltdown with virtually all major indices posting fresh all-time highs in recent weeks but there might be a new canary in the coal mine, the main question being will it be around for just a few weeks, or much longer. Firstly lets reiterate 3 of the main reasons stocks have “wobbled” in recent sessions:

Read more
Morning report

What Matters Today: Start sharpening the “Buy” pencils.

The ASX200 was clobbered yesterday falling -1.9% plumbing levels not seen since late July as broad-based selling washed through our market, noticeably the “dip” buyers failed to surface as we broke down out of the last few weeks trading range. Only 3% of the main market managed to close up on a day when all pockets of the market suffered, almost 15% of the market retreating by -4%, or more.

Read more
Morning report

What Matters Today : Clarifying why MM prefers the Value Stocks into 2022

The ASX200 continues to rotate around the 7500 area, give it another 9-more days and it will perfectly mirror the 201-point pullback in June / July from both a time & price perspective. Wednesday was a quiet day even while it delivered another recovery from early weakness, we finally closed down -0.2% with less than 30% of the main board managing to close in positive territory. Interestingly Australian stocks still haven’t experienced a 5% pullback in 2021 yet Bitcoin ($US) managed to plunge -15% in just 2-hours on Tuesday illustrating perfectly...

Read more
Morning report

Portfolio Positioning: Focusing on the MM Global Macro ETF Portfolio

The ASX200 closed marginally higher on Tuesday as it continued to hover around the 7500 level, the number of winners & losers almost exactly matched with only 1% of stocks moving by over 5% i.e. there was little on the stock level to excite investors following the Labor Day holiday in the US. However on the macro / news level there was a couple of interesting events catching our attention:

Read more
Morning report

What Matters Today: Have Mineral Resources (MIN) signalled its time to take profits in lithium stocks?

The ASX200 again rallied strongly after briefly dipping below the 7450 level – I’m almost getting bored of saying “buy the dip” but yet again the local market found a low just as Gladys delivered the NSW’s COVID statistics before enjoying solid buying throughout the day to reverse early loses and close marginally higher, a +1.2% intraday turnaround. Very similar to the trend in home schoolings, the low is certainly formed in the AM before a recovery plays out in the PM! Yesterday it was the unusual combination of IT, Gold and Reopening stocks led...

Read more
Morning report

Macro Monday: Can September follow August & ignore its negative seasonality trend?

The ASX200 is a few days into what’s been a very quiet start to September, over the last decade August & September have combined to fall an average of -3.8% but last month’s +1.9% advance should have already warned statisticians that there’s nothing normal about the strength of the post COVID stock market rally – at MM we’re sticking with the trend of “Buy the dips but only fade the “pops” to new highs”. A quick comparison to the current rally with the one after the GFC illustrates...

Read more
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MM remains bullish the ASX and a keen buyer of pullbacks
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CSR
MM remains bullish and long CSR
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MM remains bullish and long WHC
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IPL
MM is bullish IPL initially targeting the $3.50 area
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MM remains bullish equities into 2022
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MM feels the iron ore collapse is becoming overdone
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MM remains bullish the ASX200
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ORE
MM is a buyer of lithium stocks around their August lows
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IGO
MM likes IGO around the $8.50 area
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NAB
MM remains bullish NAB medium term
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CTD
MM is neutral CTD
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HUB
MM remains long & bullish HUB
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Latest Reports

Morning report

What Matters Today: 3 “elastic bands” MM are monitoring closely

The ASX200 slipped 20-points lower on Wednesday primarily because the index is more heavily weighted towards the value, as opposed to growth stocks i.e. banks and resources. Fortunately a strong performance from the Healthcare & IT stocks stemmed the losses as the market continued to embrace Tuesday’s dovish comments from the RBA. To put things into perspective the Healthcare & IT stocks make up by less than 16% of the ASX200 compared to 41% for the US S&P500 i.e. the growth names exert far less influence on the Australian index.

Morning report

Portfolio Positioning: Identifying a major risk (s) in each of the 5 MM Portfolios

The ASX200 again recovered from early losses yesterday to close up 12-points with a 4.5% advance by the Energy Sector the clear standout, coincidentally the day after MM described it as “the cheap pocket of the market” – we remain overweight and bullish oil stocks which have fallen in 2021, even while crude oil has rallied almost 50%. The miners played a supporting role which caught our attention as iron ore plumbed multi-month lows, on balance the reflation trade is slowly gathering momentum.

Morning report

What Matters Today: 3 ASX stocks “Suitors” may be evaluating right now

The ASX200 enjoyed another classic 2021 day to kick off the week, it may not have managed to close on its highs but the local index still recovered from early weakness to close up 0.25%. The number of winners and losers was pretty evenly matched but the aggressive buying which rolled through much of the Resources Sector was more than enough to offset loses elsewhere e.g. OZ Minerals (OZL) +4.2% and Pilbara Minerals (PLS) +7.3%. MM remains both bullish and overweight the Resources Sector but following our purchase of Alumina (AWC) yesterday it’s probably now time to sit back...

Morning report

Macro Monday: Can liquidity offset the Delta + tapering jitters?

The ASX200 and global equities have rallied strongly since their early 2020 COVID meltdown with virtually all major indices posting fresh all-time highs in recent weeks but there might be a new canary in the coal mine, the main question being will it be around for just a few weeks, or much longer. Firstly lets reiterate 3 of the main reasons stocks have “wobbled” in recent sessions:

Morning report

What Matters Today: Start sharpening the “Buy” pencils.

The ASX200 was clobbered yesterday falling -1.9% plumbing levels not seen since late July as broad-based selling washed through our market, noticeably the “dip” buyers failed to surface as we broke down out of the last few weeks trading range. Only 3% of the main market managed to close up on a day when all pockets of the market suffered, almost 15% of the market retreating by -4%, or more.

Morning report

What Matters Today : Clarifying why MM prefers the Value Stocks into 2022

The ASX200 continues to rotate around the 7500 area, give it another 9-more days and it will perfectly mirror the 201-point pullback in June / July from both a time & price perspective. Wednesday was a quiet day even while it delivered another recovery from early weakness, we finally closed down -0.2% with less than 30% of the main board managing to close in positive territory. Interestingly Australian stocks still haven’t experienced a 5% pullback in 2021 yet Bitcoin ($US) managed to plunge -15% in just 2-hours on Tuesday illustrating perfectly...

Morning report

Portfolio Positioning: Focusing on the MM Global Macro ETF Portfolio

The ASX200 closed marginally higher on Tuesday as it continued to hover around the 7500 level, the number of winners & losers almost exactly matched with only 1% of stocks moving by over 5% i.e. there was little on the stock level to excite investors following the Labor Day holiday in the US. However on the macro / news level there was a couple of interesting events catching our attention:

Morning report

What Matters Today: Have Mineral Resources (MIN) signalled its time to take profits in lithium stocks?

The ASX200 again rallied strongly after briefly dipping below the 7450 level – I’m almost getting bored of saying “buy the dip” but yet again the local market found a low just as Gladys delivered the NSW’s COVID statistics before enjoying solid buying throughout the day to reverse early loses and close marginally higher, a +1.2% intraday turnaround. Very similar to the trend in home schoolings, the low is certainly formed in the AM before a recovery plays out in the PM! Yesterday it was the unusual combination of IT, Gold and Reopening stocks led...

Morning report

Macro Monday: Can September follow August & ignore its negative seasonality trend?

The ASX200 is a few days into what’s been a very quiet start to September, over the last decade August & September have combined to fall an average of -3.8% but last month’s +1.9% advance should have already warned statisticians that there’s nothing normal about the strength of the post COVID stock market rally – at MM we’re sticking with the trend of “Buy the dips but only fade the “pops” to new highs”. A quick comparison to the current rally with the one after the GFC illustrates...

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