Viewpoint: Bullish
WHC +2.95%: We had CEO Paul Flynn in this morning and it was interesting to see so many people on the call, including a bunch of institutions. 6-12 months ago there was very little interest in the stock as ESG issues cast a shadow over the future of coal. While that is a valid and important concern, there is long road to travel as we transition to more renewable energy…
CSL -2.5%: News overnight that CSL is apparently in talks to buy Swiss-based drug maker Vifor Pharma saw shares lower today. It’s a big deal ($8.6bn) and while CSL made the customary update to the ASX today, saying that it “regularly assesses strategic opportunities” and there was no certainty that any transaction would result from the consideration….
I often get asked what MM’s feelings are towards the crypto space and I’m always guarded with answers due to my level of understanding and at times disbelief in this new asset class, a perfect case in point has unfolded over the last week as the little known digital token with the name Omicron, which has just over 1000 followers, rose almost 10x before proceeding…
US stocks rallied strongly overnight as the index enjoyed broad based buying, only the Healthcare and IT names failed to add 1% on a day when the Dow surged over 600-points. My “Gut Feeling” is we may have already seen the low for December and a Christmas rally will follow but obviously any adverse news around Omicron is likely to change the…
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…
US stocks failed to hold early strong gains as we heard that Omicron was already in the US, personally I was very surprised anybody expected a different result. However we feel what it does show us is on balancee the market wants to go up but it’s unlikely to make any meaningful and sustained headway until we get some clarity towards the new strain.
SGM has been very quiet over the last few months but we feel it looks poised to add to the strong gains enjoyed in October after the companies solid annual report. This metals recycling company is kicking goals on the corporate level and we feel its cheap as are a few of its peers in the Materials Sector – one for our watchlist if we tweak our holdings…
In yesterdays report we discussed Altium (ALU) which is edging towards our initial target area but no tech stocks were looking prime candidates for a switch, on reflection CAR does fit that bill, or potentially as a simple outright buy. The stock was rerated by the market back in August after they reported solid FY21 double digit growth.
US stocks experienced another volatile session overnight following elevated worries around Omicron coupled with the likelihood of earlier fed tapering, there’s nothing like uncertainty to rattle stocks.
MGF extended its 3-month decline this week to over 44% illustrating how fund managers with high fees need to perform even if they’re led by talisman Hamish Douglass. We’ve been monitoring the stock having taken a small position in the Income Portfolio recently at $33.85 – a forecasted 6.5% yield is certainly some useful cream on the cake. The companies…
