Viewpoint: Bullish
MM is holding TCL in our MM Income Portfolio, it has very similar rationale to SYD plus there are no foreign ownership caps which makes is an easier proposition for overseas suitors. Interestingly the TCL chart looks like a carbon copy of SYD before the takeover activity unfolded.
CWN has had the kitchen sink thrown at it over recent years from huge regulatory issues, a royal commission to of course COVID but as we saw with the banks this is exactly when lows are often formed. MM believes its unlikely that the likes of Star Entertainment (SGR) or Blackstone will re-engage until the mist clears towards its casino licences but unless Victoria or…
Yesterday we sent out a trading Alert for our Global ETF Portfolio i.e. buy the ProShares Ultra Euro ETF (ULE US) however I understand that some subscribers have struggled to execute this order being foreign investors, an alternative is the $US286m Invesco CurrencyShares Euro Trust (FXE US) which also excellently reflects / mirrors the performance of…
The leading copper miner rallied +4.2% on Monday to levels not seen since mid-June following the solid recovery in the underlying industrial metal. We remain bullish this quality miner initially targeting around 15% upside to fresh decade highs. We have a similar view here as towards PLS i.e. fresh 2021 highs before a “rest” will feel likely as we remember…
Lithium miner PLS was the top performer on the ASX200 yesterday rallying over 7% supported by the likes of Orocobre (ORE) which also outperformed advancing 2.5%. There’s no change here to the MM path recently outlined i.e. we are bullish PLS looking for another 15% upside before another period of sideways action as profit taking by the “weak” holders…
The ASX200 enjoyed another classic 2021 day to kick off the week, it may not have managed to close on its highs but the local index still recovered from early weakness to close up 0.25%. The number of winners and losers was pretty evenly matched but the aggressive buying which rolled through much of the Resources Sector was more than enough to offset loses…
Copper is a fascinating commodity / industrial metal because it not only largely dictates the price of its producers such as OZ Minerals (OZL) but also because it is used by many as a leading indicator of global economic strength. The strong recovery over the last few weeks implies to MM that the economy and subsequently bond yields is poised for another leg up.
Commodity prices have received plenty of publicity in both directions over the last 12-months with volatility reigning supreme. A few eye-catching headlines illustrate how cyclical in nature this space remains:
The $A is finding some teeth just as many of us are again contemplating overseas holidays, a relief to many who have already seen their overseas spending money fall by ~10% in 2021. At MM we are bullish the $A looking for a solid breach of 80c in the coming years however short term another test of 70c feels like a ~30% possibility, a similar feel to bond yields over the coming weeks.
