Viewpoint: Bullish

On a more positive note the “Big Australian” as it used to be called on the old trading floors rallied strongly to within striking distance of its all-time high yesterday and this morning it looks set to be within 1% of the milestone,  a great performance considering the juicy dividends it’s paid along the way.

CRN -7.85%: had their trading halt lifted today after raising money. They were backed into a corner with their debt and look to have done a reasonable job at rolling into a more flexible facility with a bit of headroom to move.

This morning NAB released FY21 results that look positive on first read through, with nearly all metrics a touch ahead of expectations.  

Healthcare heavyweight CSL endorsed our short-term bullish stance towards the defensive Healthcare Sector yesterday by rallying well over 2% to fresh 11-week highs, almost 15% above its mid-March low.

Yesterday saw RHC fall over 4% following a disappointing 3rd quarter trading update as the business works through the new post COVID landscape.

MM called CBA above $100 many moons ago and finally after plenty of volatility our target is coming into view, plus of course Australia’s largest listed company has paid out some extremely attractive fully franked dividends along the journey.

MM already has a position delivering exposure to pure silver hence for diversification we are considering adding a locally traded ETF which holds international gold miners.

FB needs no introductions and while personally I don’t like their platform and the negative social impacts it has, we need to stay objective at MM and clearly the business has been delivering in stunning fashion with revenue up 48% in Q1 of 2021 which dropped down to operating income growth up more than 90%.

Strandline announced it will proceed with the development of the Coburn mineral sands project in WA after reaching a final investment decision yesterday.