Viewpoint: Bullish
We’ve looked at the Dow today following Friday nights strong performance by the value end of town, this more parochial index is still trading close to its mid-May levels but after last week’s breakout to new all-time highs our ~36,000 target is now only 2-3% away and feels like just a matter of time. Subscribers should remember that the ASX is…
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…
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.
There are a number of substantial Bitcoin ETF / ETP’s available from Sweden to Canada and the US with one important common denominator being their liquid and cheap to transact. The Grayscale Bitcoin Trust (GBTC US) is physically backed meaning that it actually holds the bitcoin and enjoys a market cap above $30bn this morning, that’s even after halving since April.
According to CoinDesk prominent US investment bank JP Morgan (JPM US) is now pitching Bitcoin to its wealthy clients although apparently its early days and investments haven’t yet started flowing through. The objective is to offer a fund which will allow clients the safest / cheapest Bitcoin investment vehicle although that’s an…
Please excuse the repetition here but from a technical standpoint CBA looks almost too good to be true targeting the $110 area, just before it reports next week and trades ex-dividend later in the month. The stocks doubled from its panic COVID low and MM’s preferred scenario is a period of consolidation between $96 and $110 over the…
NWL has been consolidating recent gains over the last 7-weeks, the financial services business has generally benefited from good inflows and overall strong conditions across equity / investment markets – much like HUB. Impressively the fintech business has enjoyed more than an exciting 100% increase in inflows over the last year…
PNI +8.95%: crashed through to all time highs today follow the release of FY21 accounts after market last night. Pinnacle takes strategic stakes in funds before helping with distribution and administration, beat earnings estimates by 6% for FY21. Net flows accelerated in the second half with more than $11b coming in the last 6 months. EPS…
TWE had already fallen foul of the Chinese regulator in recent years hence the lack of selling when China cast its net further afield. We believe this is a company whose assets are undervalued and the lack of selling in recent weeks shows us many agree e.g. the value of both stock like Grange and their vineyards are interestingly marked at cost, not resell value.
Major companies like Jack Ma’s Alibaba (BABA) have followed the Hang Seng’s roadmap almost step for step destroying plenty of value on the journey. BABA have already come foul of the Chinese regulator after it’s canned float of Ant Group but a more than 30% decline has restored plenty of value in our opinion. Our initial response to…
