The ASX200 experienced it’s worst day in 2 months yesterday finally closing down 71-points as the banks and resources again fell as confidence continues to wane towards the global economy. The RBA echoed the markets concern that the Delta Variant might push Australia back into a recession as they considered further stimulus during their August board meeting– “The board would be prepared...
The ASX200 struggled yesterday as the two most influential sectors fell in tandem, Bendigo Bank (BEN) -9.9% led the Banking Sector lower while OZ Minerals (OZL) -3.9% took line honours for the major miners. The index itself fell only -0.6% although the selling felt more aggressive with 11 companies falling by over 4% while only one rallied by the same degree. . A couple of stocks which we hold in our Growth Portfolio and are hoping to add into weakness were on the ...
The ASX200 continues to rise on a wave of strong corporate earnings, record low interest rates plus of course an almost tsunami of cash looking for some semblance of a decent return in todays challenging world. There are clear signs that investors are migrating up the risk curve looking to add value / alpha but it definitely doesn’t feel like panic buying leading to a classic “blow-off top”. I would describe the markets “look & feel” more that of a simple absence of sellers, which by definition forms...
The local market struggled to hold onto early gains yesterday as profit taking hit Commonwealth Bank (CBA) and the IT Sector, it felt like a weak day although we still managed to close marginally higher. Stock rotation was prevalent within the ASX200 yesterday as 15 stocks rallied by 3% or more, while 6 companies fell by the same degree, as we’ve flagged in a number of reports MM believes this will be opus operandi into Christmas, and probably well into 2022. Elsewhere across Asia, equities were on the back foot illustrating...
The ASX200 continues to grind higher, we might often be closing well under the intra-day high but before we know it the index has again pushed through to post new all-time highs. On a day to day perspective this rally feels slow and steady, almost like 3 steps forward and 2 back, but when you stand back and look at the monthly chart of the local market its resembling a vertical line which could easily defy the bears and test 8,000 in the next 6-months...
The ASX200 again posted new all-time highs yesterday, local stocks continue to march ever higher with IT and Banking the backbone of the Tuesdays +0.3% gain. The local market continues to follow the rhythm of the rally which commenced back in February, we’ve now seen the local market appreciate over 1000-points / 16% in just 7-months with our target for this August ~7650 but until further notice the most important...
The ASX200 tried hard to rally yesterday but the selling across the “re-opening trade” and Resources Sector offset the strength in the Banking Sector, pretty much in line with our expectations flagged in yesterday’s report. MM has been bullish the banks for months and yesterday saw the Insurance Sector join the “rising bond yield” party, we like both the Banking & Insurance Sectors at this stage of the bond yield cycle although our medium-term target for Commonwealth Bank (CBA) is now only 5% away as we...
The ASX200 has surged out of the blocks to kick off August, following gains by the SPI on Friday it’s poised to open around 7570 this morning, up around 150-points / 2% after just 9-days - remember if we maintain the rhythm of 2021 the index should test 7650-7700 this month. Last weeks gains were broad based with only the Resources Sector closing lower while the combination of strong financials and soaring tech stocks contributed the most to our gains, we believe the banks et al will lead the performance this week assuming Commonwealth Bank (CBA) reports well on Wednesday.
Thursday delivered a steady session for the ASX200 which finally closed at another new all-time high although it didn’t feel like that sort of day with no stocks moving in either direction by more than 3.5%. If we were to try and dissect the meagre +0.1% advance it would be a case of gains by the Banks and Real Estate stocks was more than enough to offset losses in the Resources names. The market feels like it’s slowly starting to accept the new 7500 handle just as it did 7200-7400 and 6900-7100 trading ranges earlier in the year.
The ASX200 enjoyed a solid session on Wednesday basically closing on its all-time high, although only 55% of stocks rallied when the major banks and miners advance it’s going to be another win for the bulls. Fresh bad news is rapidly becoming increasingly thin on the ground clearing the way for further gains into Christmas for an index which has already rallied +13.9% so far this year. At MM we are bullish equities with the path of least resistance clearly to the upside, a few other additional statistics to the ones recently mentioned are also catching our attention:
The ASX200 struggled yesterday as the two most influential sectors fell in tandem, Bendigo Bank (BEN) -9.9% led the Banking Sector lower while OZ Minerals (OZL) -3.9% took line honours for the major miners. The index itself fell only -0.6% although the selling felt more aggressive with 11 companies falling by over 4% while only one rallied by the same degree. . A couple of stocks which we hold in our Growth Portfolio and are hoping to add into weakness were on the ...
The ASX200 continues to rise on a wave of strong corporate earnings, record low interest rates plus of course an almost tsunami of cash looking for some semblance of a decent return in todays challenging world. There are clear signs that investors are migrating up the risk curve looking to add value / alpha but it definitely doesn’t feel like panic buying leading to a classic “blow-off top”. I would describe the markets “look & feel” more that of a simple absence of sellers, which by definition forms...
The local market struggled to hold onto early gains yesterday as profit taking hit Commonwealth Bank (CBA) and the IT Sector, it felt like a weak day although we still managed to close marginally higher. Stock rotation was prevalent within the ASX200 yesterday as 15 stocks rallied by 3% or more, while 6 companies fell by the same degree, as we’ve flagged in a number of reports MM believes this will be opus operandi into Christmas, and probably well into 2022. Elsewhere across Asia, equities were on the back foot illustrating...
The ASX200 continues to grind higher, we might often be closing well under the intra-day high but before we know it the index has again pushed through to post new all-time highs. On a day to day perspective this rally feels slow and steady, almost like 3 steps forward and 2 back, but when you stand back and look at the monthly chart of the local market its resembling a vertical line which could easily defy the bears and test 8,000 in the next 6-months...
The ASX200 again posted new all-time highs yesterday, local stocks continue to march ever higher with IT and Banking the backbone of the Tuesdays +0.3% gain. The local market continues to follow the rhythm of the rally which commenced back in February, we’ve now seen the local market appreciate over 1000-points / 16% in just 7-months with our target for this August ~7650 but until further notice the most important...
The ASX200 tried hard to rally yesterday but the selling across the “re-opening trade” and Resources Sector offset the strength in the Banking Sector, pretty much in line with our expectations flagged in yesterday’s report. MM has been bullish the banks for months and yesterday saw the Insurance Sector join the “rising bond yield” party, we like both the Banking & Insurance Sectors at this stage of the bond yield cycle although our medium-term target for Commonwealth Bank (CBA) is now only 5% away as we...
The ASX200 has surged out of the blocks to kick off August, following gains by the SPI on Friday it’s poised to open around 7570 this morning, up around 150-points / 2% after just 9-days - remember if we maintain the rhythm of 2021 the index should test 7650-7700 this month. Last weeks gains were broad based with only the Resources Sector closing lower while the combination of strong financials and soaring tech stocks contributed the most to our gains, we believe the banks et al will lead the performance this week assuming Commonwealth Bank (CBA) reports well on Wednesday.
Thursday delivered a steady session for the ASX200 which finally closed at another new all-time high although it didn’t feel like that sort of day with no stocks moving in either direction by more than 3.5%. If we were to try and dissect the meagre +0.1% advance it would be a case of gains by the Banks and Real Estate stocks was more than enough to offset losses in the Resources names. The market feels like it’s slowly starting to accept the new 7500 handle just as it did 7200-7400 and 6900-7100 trading ranges earlier in the year.
The ASX200 enjoyed a solid session on Wednesday basically closing on its all-time high, although only 55% of stocks rallied when the major banks and miners advance it’s going to be another win for the bulls. Fresh bad news is rapidly becoming increasingly thin on the ground clearing the way for further gains into Christmas for an index which has already rallied +13.9% so far this year. At MM we are bullish equities with the path of least resistance clearly to the upside, a few other additional statistics to the ones recently mentioned are also catching our attention:
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