Viewpoint: Bullish
US stocks recovered from steep early losses in the pre-market with the tech heavy Nasdaq actually managing to close higher, the S&P 500 closed a touch lower and the Dow Jones fell ~0.50%. There is no change yet with our view as we still lean towards higher prices over the coming months – while the market has fallen, it is now starting to absorb less favourable news.
The ASX200 put in another solid performance yesterday to start off the week by ignoring Fridays 500-point plunge by the Dow to close up an impressive 0.4%, as we’ve said previously the more time the index can consolidate above 7200 the higher our conviction becomes that it can test 7600 in the coming months. However yesterday’s buying wasn’t broad…
CAR +0.56%: A volatile session for CAR after delivering a ‘beat’ to 1H22 earnings today with the stock opening well before tapering off throughout the session. Profit was up 20% on the same time last year while in terms of guidance, they said “we expect to deliver strong growth in Group Adjusted1 revenue, solid growth in Group Adjusted1 EBITDA…
The UK FTSE has defied weakness in global equities this year to continue registering fresh multi-year highs i.e. as we said earlier not all indices move together. The FTSE is far more a value as opposed to tech weighted index which clearly shows which part of the market has been thrown into the naughty corner early in 2022. Importantly this is a good read through…
Again no change, crude oil has been following the MM roadmap perfectly through 2021 and into 2022 but the easy money now feels well and truly behind us , although another 5-8% upside feels very possible. Its been over 7-years since Brent Crude was trading above $US90/barrel but with good old fashion supply / demand pushing prices higher plus escalating…
The $A continues to dance to the greenbacks tune as opposed to running its own race, we remain bullish primarily in-line with our negative call on the $US through 2022.
Not all stocks / sectors move together and the same is currently very true for indices in the US which any heavily exposed to tech which look / feel heavy whereas the broad based Russell 3000 still appears capable of making fresh all-time highs after its “healthy” 13% correction. Again obviously a scary outcome from the Ukraine is likely to scupper stocks short-term but the markets bearish consensus could ironically provide the foundations for a decent rally over the coming months.
The ASX200 looks set to open back under 7200 this morning following a poor close on Wall Street i.e. yet again nobody appears to want to go home long for the weekend. Overall we felt last week’s performance was solid with the extra spice from reporting season throwing up some major swings on the stock level, it favoured the bulls on the index level last week i.e. the banks are firm which is extremely supportive of the ASX.
Black Cat Syndicate Limited is an Australia-based gold mining company with three owned operations. The Company’s three operations are Coyote Gold Operation (Coyote), Paulsens Gold Operation (Paulsens), and Kal East Gold Project. Coyote is located in Northern Australia, approximately 20 kilometer (km) on the Western Australia (WA) side of the WA/ Northern Territory (NT) border, on the Tanami Highway. Coyote consists of an open pit and an underground mine, 300,000 tonnes per annum (tpa) processing facility, and other related infrastructure. Paulsens is located 180 km west of Paraburdoo in WA. Paulsens consists of an underground mine, 450,000tpa processing facility, numerous potential open pits and other related infrastructure. Its Kal East Gold Project comprises of approximately 800 square kilometers (km2) of prospective ground to the east of the mining centre of Kalgoorlie, WA. The Company controls approximately 1,770 km2 in the WA gold regions.
Thirdly we thought we should remind subscribers that we have already gained exposure to physical uranium market through the Sprott Physical Uranium Trust (U-U CN) in our Global Macro ETF Portfolio. This is a Canadian traded trust which basically follows the spot (current) price of uranium, again after its 30% pullback we like the risk / reward considering the outlook for uranium.
