General Markets Talk

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Kram said:
One thing about gold is that is it's not overly difficult as a layman to get an idea of and understand drill results in explorers or production in a miner.

Oil and gas the total opposite imo.
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Agreed on drill results , how many zombie juniors are there out there living if cherry picked assays.

I think you’re always better off buying the streamers if you want exposure to gold.


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Cautious about the market in general.



I've closed my put spreads and shorts (for a loss) but haven't added anything except VGTX.

Added PDD a few days earlier and VGTX yesterday. FUTU's done well for me, too.

Also shorted USDJPY yesterday - has done well, but I've set a limit at 149 because that's where I bought FXY. If the Japanese Ministry of Finance has intervened, this is going significantly lower.

Let's see if Chinese stocks keep outperforming...

(Oliver Kell is an Investing Champion BTW - no literally, that's what he was awarded)
 

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A series of worse than expected trading updates has hobbled consumer stocks like Baby Bunting (BBN), Temple & Webster (TPW), Super Retail Group (SUL), and JB Hi-Fi (JBH).

Banks were dragged lower by a combination of Westpac's (WBC) ed-dividend (harmless) and Commbank's (CBA) disappointing Q3 update (less harmless).

Somehow, don't ask me how or why, lithium stocks continue their recent resurgence. Who would have thought it!?
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www.marketindex.com.au

Evening Wrap: ASX 200 lower as consumer stocks dumped and CBA disappoints, lithium stocks resurgence continues

Worse than expected trading updates hobbled consumer stocks like Baby Bunting (BBN), Temple & Webster (TPW), and Super Retail Group (SUL). Banks were dragged lower by Commbank's disappointing Q3 update. The resurgence in lithium stocks continues.
www.marketindex.com.au www.marketindex.com.au
 
I checked my investments the other day and RNU which was tipped in here (over a year ago?) still going pretty strong. I also have an investment in Qantm which I think I saw recommended in the AFR a few years back, which is up well over 50% since I bought in. Pleasantly surprised as the last time I checked it was actually down on my purchase price but has shot up since March.
 
BuddysBiggestFan said:
Think I can kiss my $8.5K on AVZ goodbye

View attachment 1991109

Down to my last $1.5K from $40K and that’s invested in WC8
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From what I've seen you just seem to mostly punt on ultra long shot micro caps. Nothing wrong putting a small % into that for some fun but as a main strategy it's always going to be very tough and tbh probably not much better than going to the tab.
 
BuddysBiggestFan said:
Think I can kiss my $8.5K on AVZ goodbye

View attachment 1991109

Down to my last $1.5K from $40K and that’s invested in WC8
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Have to cut losses earlier than that if you're going to punt specs exclusively imo. preserve capital as you're going to get alot wrong on the spec end which is littered with lifestyle companies with good salesmen
 

ASX to slide as Wall St sinks on rate setback​

Timothy Moore, Tom Richardson

Australian shares are poised to fall sharply at the open of Friday’s session, reflecting weakness across commodities and after Wall Street’s sell-off.
ASX futures fell 83 points, or 1.06 per cent, this morning. Brent oil flirted around $US81 a barrel. Gold slid below $US2350 an ounce. Iron ore retreated below $US119 a tonne.
“Iron ore futures edged lower as traders took stock of last week’s announced support measures for the property sector [in China],” said ANZ Bank. “They are likely to remain a welcome boost to sentiment. However, their impact on demand for iron ore and steel may be lacklustre.”
All three US benchmarks closed lower as investors viewed the latest purchasing manager data as reason for Federal Reserve policymakers to hold rates higher for longer. Both the May flash manufacturing and services PMIs came in better than expected.
“US yields rose, the USD was higher and US equities fell,” National Australia Bank said. “Stronger PMI data out of the US was the proximate driver, and while those did come in much stronger than expected, the context of upside surprises in US economic data having been rare for the last month or so may have supported the size of the market reaction.”
The S&P 500 finished down 0.7 per cent; the Nasdaq Composite slid 0.4 per cent and the Dow lost 1.5 per cent.
Nvidia rose 9.3 per cent, lifting its market cap to $US2.55 trillion. Apple slid 2.1 per cent, taking its market cap to $US2.87 trillion.
US markets will be closed on Monday for Memorial Day.
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  • Gold: Gold prices rallied almost 2% overnight to a fresh all-time high of US$2,468. The VanEck Gold Miners ETF pared similar gains, up 3.5% to its highest level since April 2022. Most ASX-listed gold names should gap up as the market opens on Wednesday. It will be interesting to see if they just gap up 2-5% and do nothing for the rest of the session – or pick up some intraday bids.

Nice time to be long.
 

ASX to drop after Wall Street tumbles most since 2022​

Timothy Moore
Share post
Australian shares are poised to drop in line with the biggest sell-off on Wall Street since 2022 as investors fretted over disappointing quarterly results from Tesla and Alphabet, the first among the magnificent seven to report.
Futures for the ASX 200 were down 1 per cent after the benchmark S&P 500 dropped 2.3 per cent in its worst day since December 2022. The tech-heavy Nasdaq tumbled 3.6 per cent in its worst session since October 2022, and the Dow shed 1.3 per cent. The Australian dollar traded below US66¢ and copper led base metals lower.
The VIX, or the Chicago Board Options Exchange’s CBOE Volatility Index, leapt 22.6 per cent, while CNN’s Fear & Greed Index fell into fear territory at 42; it closed the previous session in neutral at 55, a year ago it was at 82 in extreme greed.
“Equity markets sold off, weighed down by disappointing earnings, particularly amongst tech companies who have invested heavily in AI but are yet to reap any results,” ANZ wrote in a note.
Tesla plunged 12.3 per cent after it reported disappointing quarterly results and founder Elon Musk on a conference call encouraged investors who have lost faith in the company to sell their shares.
Among the rest of the magnificent seven, Nvidia shed 6.8 per cent, Meta lost 5.6 per cent, and Alphabet slid 5 per cent. Microsoft, Amazon and Apple all dropped around 3 per cent.
“There is a widely held view that some ‘big-tech’ firms were ‘priced for perfection’ coming into this earnings season,” said Capital Economics’ John Higgins. “That’s not surprising.”
Visa shares also fell 4 per cent as the revenues at the key barometer of consumer spending disappointed the market.
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