Viewpoint: Bullish
Overnight we saw US stocks experience a choppy session but an overall positive one as they liked the Fed’s move to act more aggressively now to hopefully put a cap on inflation early. We’ve often been critical of central banks being ‘behind the curve’ when it comes to inflation forcing them to hike more aggressively than they & the market would like. The move…
Commencing on a positive footing, UK based bank VUK was best the performing ASX200 stock yesterday rallying over 4% after dipping under $3 earlier in the week. This is one of the few “dogs” of 2021 that MM believes is positioned strongly for a rally into 2022 and the “false dip” under $3 has generated an excellent technical buy signal for subscribers…
The ASX200 was clobbered 0.7% yesterday as it was unable to withstand the “Fed Jitters” – nobody’s questioning whether interest rates are headed higher both in Australia and the US but markets have become fixated with the potential speed of such hikes which will challenge many high valuation stocks and sectors. Hence it was no surprise…
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Uranium stocks have been under pressure over the last few weeks, and we are ruing a missed opportunity to take profits (again) on our Paladin (PDN) position when it traded over $1 in recent weeks having successfully do so earlier in the year. We continue to like the Uranium space overall and feel the selling has come as a result of a lack of news…
The ability of central banks to balance growth and rate hikes has also weighed on European indices over the last few weeks but at this stage its nothing more sinister than consolidation of the strong gains earlier in the year, a very similar look / feel to the ASX200. The technical picture is interesting unlike the price action of the last 6-months:
US stocks experienced some more FOMC jitters overnight with the high valuation ”Big Tech” names under the most pressure which makes no surprise as they’ve largely been responsible for the recent strong bounce in the S&P500. If we are correct into 2022 these growth names need to at least remain firm while the likes of the banks and resources…
HUB rallied 1.7% yesterday following their AGM, the board reiterated how strong the last 12-months have been while importantly adding that strong FUA growth has been achieved through 2022 to-date, all looks very promising into the companies half year results in February. If the Australian Tech Sector can withstand the current jitters being…
CSL is currently in a trading halt after buying Swiss Vifor Pharma Group for $16.4bn as it backs ageing and obesity to remain integral problems for society moving into the next decade. The acquisition is being funded by a $6.3bn share placement, a $750m SPP and cash, debt facility etc. While we don’t like the direction the world is moving with ever…
BHP has been actively traded in London and Australia since I can remember (2001) however this is set to change as the “Big Australian” wants to unify itself to one vehicle domiciled in Australia. This has significant ramifications to the stocks index weighting i.e. currently it is around 5.7% of the ASX200 and it will become closer to 9.5%, a whopping…
