Closing Bell 8th February: XJO climbs higher. Financials, REITs and IT lead the way
XJO climbs higher. Financials, REITs and IT lead the way. CSL and AGL both jump on outlooks
February 2024
Balanced Portfolio Recommendation: Switch RMD & TLX to DRUG ETF
Switch RMD & TLX to DRUG ETF
Traders Thoughts: 8th February – Luke Gromen
Traders Thoughts: Luke maintains his view that ultimately the central banks will print. The path in between is the hard part to navigate
Pre-Market Pulse 8th February – S&P500 closes at record as investor sentiment remains fickle
Equities The S&P 500 rallied Wednesday closing at a record high and just shy of 5,000 level as bullish bets on stocks continued, with consumer stocks leading the charge following an earnings-led rally in Chipotle and Ford.
Balanced Portfolio Recommendation: Trim Take Profit – Elders (ELD)
For our trading strategy, we’re adjusting our position in Elders Limited (ELD) by reducing our allocation by 1% due to its recent impressive performance. Despite this adjustment, we will maintain a 2% allocation in ELD, recognizing the stock’s strong momentum. Additionally, the significant rainfall recently suggests the potential for continued positive performance, justifying our decision to retain a substantial investment in the company.
Balanced Portfolio Recommendation: Trim Take Profit – Graincorp (GNC)
GNC has gone parabolic. Time to trim – take profits on position. Reduce allocation by 1.5% down from 5.5% to 4%
Closing Bell 7th February: XJO bounces. China stimulus helps Materials and Real Estate sectors
XJO bounces. China markets rebound. Materials and Real Estate sectors lead the way higher
Balanced Portfolio Recommendation: Buy Worley Limited (WOR)
Adding WOR to Balanced Portfolio with a 3% allocation. WOR is a global company headquartered in Australia is a global provider of professional project and asset services in the energy, chemicals and resources sectors. As a knowledge-based service provider, they use their knowledge and capabilities to support the customers to reduce their emissions and move towards a low carbon future.
Pre-Market Pulse 7th February – Stocks lose momentum as “Higher for Longer” sinks in
Equities staged a late dash from the lows of the day as the race to record highs resumed following a recent stumble as broadening out of the rally on stronger corporate earnings helped soften the blow from chip-led weakness in tech stocks.
Closing Bell 6th February: RBA holds rates, keeps tightening bias. XJO lower again
XJO lower again. Utilities and Miners drag market lower
Alpha Recommendation: Close Stanmore Resources (SMR)
Stanmore Resources (SMR) Stop Loss Hit – Close – Sell
Pre-Market Pulse 6th February – Rising bond yields spoil the record run party
An pressured by a McDonald’s-driven wobble in consumer stocks and jump in Treasury yields after Chairman Jerome Powell shackled hopes of a sooner interest rate cut.