Podcast Archive

• The ASX fell and gathered itself post the RBA announcement with the index closing down 30 points at 7248 (0.4%). Seems the RBA is not for turning and that helped sentiment. Losses across the board but manageable. Banks weakened with the exception of CBA which rose 0.3% after its Buy back result last week. 
• The Big Bank Basket steady at $169.92. MFG slipped hard down 3.7% with PNI following suit down 3.3%. Miners were mixed, golds firmed, GOR up 7.2%, SBM up 5.2% and SLR up 5.7%. Iron ore miners drifted lower, BHP down 1.1%, FMG off 1.3%. Industrials eased on places, healthcare down, CSL off 0.2% and RMD falling another 2.9%. 
• Energy was a bright spot, WPL up 4.0% and STO up 2.5% but KAR rose 3.1% and BPT up 0.7%. Travel stocks were mixed FLT up 2.0% and WEB off 0.6% with QAN down 1.2%. 
• In the tech space, profit taking was the order of the day, APT fell 5.0% to its lowest level since Square deal announced, 2021 gains in the sector are now gone. APX hit a three-year low down 5% and the All-Tech Index was down 2.6%. In corporate news, QAN is on the verge of a huge fleet renewal order. RBA keeps rates unchanged, and timetable remains the same. 10-year yields rise to 1.51%.

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The strategy piece today looks at all the excuses for the market falling over but there is only one reason. We are in the middle of a slow controlled correction rather than a panicky collapse and the hope is that the bottom will appear as miraculously as the top disappeared. We briefly look at the energy sector, the housing market, some broker research and the market charts.

The rollercoaster ride continued overnight with US markets weaker. The Nasdaq was the worst, down more than 2% as tech stocks tank: Facebook in focus, down 5% on an outage and whistleblower issues. 

• ASX SPI Futures down 68 points.
• RBA Meeting today.
• US tech stocks under pressure as Facebook falls on outages.
• Energy stocks in focus as Brent Crude hits US$81.26.
• Gold higher. Iron ore quiet with China closed.

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• ASX SPI up 52 points.
• US Markets rally hard. US Bond yields ease back to 1.46%.
• Commodities slightly better. Energy in focus. Coal prices hot record.
• RBA Meeting tomorrow. NSW Public holiday today. Volumes may be lighter.

Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today

• The ASX 200 back down by 147 points to 7186 (2.0%) as enthusiasm reverses. Down 2.1% for the week. US Politics taking centre stage and the debt roof in play. 
• Banks under serious pressure as moves to rein in extreme house price rises weighs. The Big Bank Basket down 3.3% to $180.20. CBA the worst of the big four as most exposed to the housing sector losing 4.1%. Other financial also hit hard, MFG down 1.8%, MQG off 2.9% and QBE eased 3.0%.
•  Industrials were also under serious pressure, ALL down 4.2%, DMP down 6.3%, WOW warning of some closures this weekend as CV19 restrictions bite. TCL fell 1.6% on its last day of rights trading, REH down 5.3% as a housing play and BLD dropped 2.8%. Healthcare in casualty, CSL dropped 1.5%, RMD down 1.8% and RHC off 1.8%.
•  In the mining stocks it was reverse all engines, BHP fell 2.0%, RIO down 2.9% and FMG off 2.6%. Lithium stocks were depressed PLS losing 5.4% and ORE down 4.0%. Uranium though finding some support, PDN up 4.4%. Base metal stocks eased, and gold miners were one of the few spots of green grass in a sea of red. NCM up 0.8% and NST rising 2.5%. Tech mixed surprisingly, XRO found some friends up 1.0% but APT dropped 2.1%. The All-Tech Index falling 1.2%. 
• Travel stocks firmed as international flights set to resume. Next month. WEB up 2.0% and QAN up 0.7%. Not much on the corporate front. 
• In NSW the Premier resigned ahead of an ICAC inquiry and death rate continued at elevated levels. US futures weaker but off lows. 

A sour start to the new quarter in store as Wall Street drops on political uncertainty.

• ASX SPI down 112 points.
• Iron ore up 3% Gold up 2%
• Oil steady.
• China closed for Golden Holiday week.

Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today

• The ASX 200 rose 136 points to close at 7332 (1.6%) on a killer combo of lower bond yields, higher iron ore prices, quarter end buying and US futures heading higher. 
• The banks led the charge higher with the Big Bank Basket rising 2.1% to $186.31. MQG up 2.3% and insurers also catching the green blast, QBE up 2.0% and MPL up 2.0%. Big miners were back in demand as bargain hunting and very strong ore prices helped BHP rise 3.4%, FMG up 1.1% despite a death at Solomon Hub and MIN up 3.4%. 
• Gold miners saw some selective buying in DEG and PDI and lithium stocks shrugged off the recent depression as PLS rose 3.5% and ORE up 2.4%. Uranium stocks continued to be pressured on lower uranium prices. Industrials were firm although tech stocks seemed to miss the bullish memo. 
• The All-Tech Index languished like its big brother the Nasdaq with the index up 0.5% and APT losing 0.5%. That could all change tomorrow with some catch up buying. Healthcare back on the rampage, CSL up 2.3% and FPH doing very well up 2.7%. 
• In corporate news, Z1P have done a deal with Microsoft rising 1.3% and ORI had an explosive reaction up 14.5% to the impairments with brokers warming to the story. TCL saw buying as yields fell and the rights shot up 60.3% with one day to go of trade. 
• In economic news, the seasonally adjusted estimate for total dwellings approved rose 6.8% in August. Job vacancies decreased by 9.8% (36,200 vacancies) in the three months to August 202. Asian markets firmed. European markets opening higher 
• Dow futures up 250.

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Interest rates drop and the market pops. We look at why the Aussie dollar is going down. The risk in uranium plays. A big stock that might finally be bottoming after two years. A company that is likely to be bid for. The China Evergrande situation - not over yet. And what “Speculative Buy” recommendations really mean.

Catch up on all the overnight action and get the vital leads you need to set up your trading day.

• ASX 200 set for a slight rebound with SPI up 23.
• US markets volatile with late sell off pushing Nasdaq down 34 points.
• Volatility in US 10 years as debt ceiling stalemate continues.
• Commodity prices slip. Crude prices drop around 0.6%.

Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today

• The ASX 200 fell hard again today though rallying into the match out falling 79 to 7197 (1.1%) with the banks seeing declines on news that authorities may clamp down on risky lending practices. So glad we had that RC. The Big Bank Basket fell to $182.42 (1%) with CBA off 1.3% and MQG falling 1.7%. MFG continued to fall down 2.2% and PNI also in the sellers’ sights today down 9.1%. 
• Big iron ore miners fell again too, BHP off 1.3%, BSL off 3.9% and RIO down 0.6% but FMG spared somewhat.
•  Industrials slipped CSL continue to weigh down another 2.6% with TLS down 0.8% and tech off led by APT down 4.2% and XRO down 1.8%. The All-Tech Index dropped 1.9%. Energy stocks saw some profit taking as crude prices drifted back, STO down 1.3% and WPL off 2.2%. Travel stocks feeling a little unloved as Vic case number surpass NSW numbers. QAN down 3.5% and WEB off 1.9%. 
• In corporate news, APA extended the bid for AST until the takeover panel can rule on exclusivity whilst SIQ attracted a private equity bid at 1035c from TPG. Nothing on the economic front today but some signs in Asia that Evergrande may be restructured rather than bailed out. The stock rose around 9% in Asian trade. 
• 10-year yields rising again to 1.49%.  
• Fumio Kishida wins PM vote in Japan.