Viewpoint: Bullish
Smart Group (SIQ) was upgraded by Ords this morning with a BUY and $7.70 target price. We own the car leasing and salary packaging business SIQ in the Income Portfolio and it’s starting to grind higher after a fairly lacklustre period.
ETFS Metal Securities Australia Ltd – ETFS Physical Silver is an open-ended Exchange Traded Commodity incorporated in Australia. It is designed to track the Silver price less fees allowing investors to invest in the precious metals market. The ETF is listed on the Australia Stock Exchange (ASX) under code ETPMAG
Funeral business IVC is carrying a major 8% short position which could be tested especially now thy have a new CEO at the helm. To put this short position into perspective it will take around 30-days to cover at the current average daily volume, that would make me very concerned as a trader especially after the shares have already declined ~40% due to concerns around increasing competition.
Overnight Amazon (AMZN US) was a standout in the large cap US tech space advancing close to 4%, we continue to use this goliath online retailer as a yardstick for stocks and assuming we are correct the stock should also make fresh all-time highs in the coming weeks / months.
US stocks recovered strongly overnight with the tech based NASDAQ rallying 2.5% to close within striking distance of fresh all-time highs, a peak we believe will be scaled in the not too distant future.
A quick update on our thoughts towards Z1P which put on over 5% yesterday to be the 3rd best performing stock in the ASX200, we remain bullish and long the BNPL (Buy now pay later) player looking for a pop over $8.50 in the coming weeks, a 5.7% short position could really help in today’s environment
Nuix Pty Ltd operates as atechnology company. The Company offers software platform for indexing, searching, analyzing, and extracting knowledge from unstructured data that includes digital investigation, cybersecurity, e-Discovery, information governance, and email migration and privacy. Nuix serves customers worldwide.
Woolworths Group Limited offers retail operations. The Company operates general merchandise consumer stores and supermarkets, as well as engages in procurement of food, liquor, and products. Woolworths Group also provides hotels which includes pubs, food, accommodation, and gaming operations. Woolworths Group serves customers in Australia and New Zealand.
BetaShares Strong Australian Dollar Hedge Fund ETF (AUDS) is an exchange-traded fund incorporated in Australia. The investment objective of the Fund is to provide Unitholders with geared exposure to the change in value of the Australian Dollar relative to the U.S. Dollar (i.e. it aims to provide a magnified “long” exposure to the value of the Australian Dollar relative to the U.S. Dollar).
Alibaba and founder Jack Ma have been in the limelight of late after having their $US37bn dual listing of Ant Group cancelled by China, we believe the short-term negative news has provided solid value in the stock and are keen around the $US250 area.
