Tuesday saw the ASX200 rally strongly finally closing up just shy of 1% on broad based buying with strong gains enjoyed by most pockets of the market, however the standout performances largely came from stocks who were whacked in previous sessions around Omicron fears, as we’ve said over recent days the new variant emanating from South Africa doesn’t appear to be an economic or health game changer, the RBA concurs with our feeling here believing the Omicron variant is a source of uncertainty but no major risk to our economy. Overall the Australian central...
The ASX200 fought hard yesterday to close marginally higher in the face of some aggressive selling across the tech space, it felt like many investors / traders who were long high valuation growth names decided to take a hint from Bitcoins 25% plunge over the weekend i.e. if in doubt get out! The were a number of prominent losers in these high Beta names including Zip (Z1P) -10.1%, HUB24 (HUB) -4.4%, Allkem (AKE) -7.2% (which is the old Orecobre), Kogan.com (KGN) -6.6%, Appen (APX) -5.4% and Afterpay...
Omicrons impact on equities has been fairly muted since it arrived on the scene a few weeks ago, a 2% pullback by the ASX200 can only be described as a little more than noise, especially when compared to the last 2-years. Obviously we have seen a few roller coaster sessions on Wall Street but in our opinion stocks don’t feel too concerned around how the new variant is going to impact economic growth:
The ASX200 continues to find buying support into decent dips but it’s not yet got the stamina / belief to make any headway on the upside, yesterday saw the local market bounce over 50-points from a weak open, following an aggressive late downturn by US markets, but once it returned to unchanged the buying almost instantly became far more passive. Currently markets are transfixed on any fresh news around the Omicron variant and until we see the market hold firm on bad news the likelihood is we haven’t yet seen the end...
The ASX200 proved very resilient on Wednesday managing to largely ignore loses on overseas bourses , we finally closed down less than 0.3% although only 20% of stocks managed to close in positive territory. The influential Banking & Resources Sectors are finding some support into the recent weakness and these are 2 areas of the market which will need to perform if the bulls like ourselves are to be rewarded with a classic Christmas Rally. If we consider how far some of these big names have fallen in recent months it’s not...
Tuesday saw the ASX200 rally strongly into lunch only to fail badly in the last hour of trade after the Moderna CEO reminded us all that there remains significant unknowns / risks with the Omicron COVID strain – if the ASX can both rally & fall around 100-points in one session I feel like we should all brace ourselves for a volatile run into Christmas. The market has remained in a fairly tight trading range for the last 6-months although it certainly doesn’t feel like it this morning.
The ASX200 felt strong yesterday even though it closed down over 0.5%, the local index managed to recoup half of the days early losses with 35% of stocks finally to closing in positive territory while the IT and Resources Sectors both closed up on the day - only 2 stocks fell by over 5% which illustrated the lack of aggressive selling, unlike Friday! However it’s one thing for the market to find support into weakness but we need a definite 360 about-face in market sentiment to make another assault on new highs, now over 5% away.
Omicron has been the subject on many people’s minds over the last few days, surely not another ruined Christmas etc. The social impact of lockdowns over the last few years has been simply awful and one comment I’ve heard numerous times over this weekend has been “I’m not sure I can cope with another lockdown” . Europe was already struggling under yet another winter wave of COVID and now we have a new variant thrown into the mix which has already described as “cause for concern”, although at this stage it does appear markets...
The ASX200 ground out a small 0.1% gain on Thursday leaving us marginally higher for both the week and month, it’s becoming boring on the index level but my “Gut Feeling” is movement is looming on the horizon. The Banks continue to weigh on the index but a strong 2.4% bounce by the IT Sector managed to keep us in positive territory – its been a long while since both of the value & growth names rose or fell together as sector rotation continues to dominate proceedings. December arrives in less than week and the bullish statistics keep on rolling e.g. over the last 40-years...
On Wednesday the ASX200 continued to rotate around the 7400 area, it’s acted like a strong magnet since the last half of October, so far this month the markets remained in a tight 168-point band – with only 4 trading days remaining the local markets delivered a monthly range well under half of the calendar years average, even after soaring bond yields and inflation have shaken the confidence of many investors. If I had known at the start of the month where bond yields were today I would have called the index 5% lower, either I’m too reactive or the stock market remains...
The ASX200 fought hard yesterday to close marginally higher in the face of some aggressive selling across the tech space, it felt like many investors / traders who were long high valuation growth names decided to take a hint from Bitcoins 25% plunge over the weekend i.e. if in doubt get out! The were a number of prominent losers in these high Beta names including Zip (Z1P) -10.1%, HUB24 (HUB) -4.4%, Allkem (AKE) -7.2% (which is the old Orecobre), Kogan.com (KGN) -6.6%, Appen (APX) -5.4% and Afterpay...
Omicrons impact on equities has been fairly muted since it arrived on the scene a few weeks ago, a 2% pullback by the ASX200 can only be described as a little more than noise, especially when compared to the last 2-years. Obviously we have seen a few roller coaster sessions on Wall Street but in our opinion stocks don’t feel too concerned around how the new variant is going to impact economic growth:
The ASX200 continues to find buying support into decent dips but it’s not yet got the stamina / belief to make any headway on the upside, yesterday saw the local market bounce over 50-points from a weak open, following an aggressive late downturn by US markets, but once it returned to unchanged the buying almost instantly became far more passive. Currently markets are transfixed on any fresh news around the Omicron variant and until we see the market hold firm on bad news the likelihood is we haven’t yet seen the end...
The ASX200 proved very resilient on Wednesday managing to largely ignore loses on overseas bourses , we finally closed down less than 0.3% although only 20% of stocks managed to close in positive territory. The influential Banking & Resources Sectors are finding some support into the recent weakness and these are 2 areas of the market which will need to perform if the bulls like ourselves are to be rewarded with a classic Christmas Rally. If we consider how far some of these big names have fallen in recent months it’s not...
Tuesday saw the ASX200 rally strongly into lunch only to fail badly in the last hour of trade after the Moderna CEO reminded us all that there remains significant unknowns / risks with the Omicron COVID strain – if the ASX can both rally & fall around 100-points in one session I feel like we should all brace ourselves for a volatile run into Christmas. The market has remained in a fairly tight trading range for the last 6-months although it certainly doesn’t feel like it this morning.
The ASX200 felt strong yesterday even though it closed down over 0.5%, the local index managed to recoup half of the days early losses with 35% of stocks finally to closing in positive territory while the IT and Resources Sectors both closed up on the day - only 2 stocks fell by over 5% which illustrated the lack of aggressive selling, unlike Friday! However it’s one thing for the market to find support into weakness but we need a definite 360 about-face in market sentiment to make another assault on new highs, now over 5% away.
Omicron has been the subject on many people’s minds over the last few days, surely not another ruined Christmas etc. The social impact of lockdowns over the last few years has been simply awful and one comment I’ve heard numerous times over this weekend has been “I’m not sure I can cope with another lockdown” . Europe was already struggling under yet another winter wave of COVID and now we have a new variant thrown into the mix which has already described as “cause for concern”, although at this stage it does appear markets...
The ASX200 ground out a small 0.1% gain on Thursday leaving us marginally higher for both the week and month, it’s becoming boring on the index level but my “Gut Feeling” is movement is looming on the horizon. The Banks continue to weigh on the index but a strong 2.4% bounce by the IT Sector managed to keep us in positive territory – its been a long while since both of the value & growth names rose or fell together as sector rotation continues to dominate proceedings. December arrives in less than week and the bullish statistics keep on rolling e.g. over the last 40-years...
On Wednesday the ASX200 continued to rotate around the 7400 area, it’s acted like a strong magnet since the last half of October, so far this month the markets remained in a tight 168-point band – with only 4 trading days remaining the local markets delivered a monthly range well under half of the calendar years average, even after soaring bond yields and inflation have shaken the confidence of many investors. If I had known at the start of the month where bond yields were today I would have called the index 5% lower, either I’m too reactive or the stock market remains...
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